$1$

Required Information

$[$The following information applies to the questions displayed below$]$

Wiater Company operates a small manufacturing faclity, On January $1,2021,$ an asset account for the company showed the following balances:

Equipment

$$200,000$

Accumulated Depreciation $($beginning of the year$)62,000$

During the first week of January $2021,$ the following cash expenditures were incurred for repairs and maintenance:

Routine maintenance and repairs on the equipment $ $2,450$

Major overhaul of the equipment that improved efficiency $27,000$

The equipment is being depreclated on a straight$-$line basis over an estimated life of $15$ years with a $$14,000$ estimated residual value. The annual accounting period ends on December $31.$

Requlred:

Indlcate the effects $($accounts$,$ amounts, and $+$ for increase and $-$ for decrease$)$ of the $2021$ adjustment for depreciation of the manufacturing equipment, assuming no change in the estimated life or residual value. $($Do not round Intermedlate calculations.

Enter any decreases to Assets, Llabilities, or Stockholders' Equity with a minus sign.$)$

$\backslash$table$[[$Date$,$Assets,$=,$Llabilities,$+,$Stockholders' Equity$],[$December $31,2021,$Accumulated Depreciation$-$Equipment,$=,,+,$Depreciation Expense$]]$