7 EB-8 (Algo) Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreciation) LOB-2, 8-3 Hume Company operates a small manufacturing facity as a supplement to its regular service actives At the beginning of 2020 an asset account for the company showed the following balances Accundated depreciate throug During 2020, the following expenditures were incurred for the equipment 0 Mutine sustenance and repairs on the soulpent The equipment is being depreciated on a straight-line basis over an estimated site of 16 years with a $10.000 estimated residus va The annual accounting period ends on December 31 Required: indicate the effects of the following on the accounting equation (Enter decreases to account categories as negative amours and do not round your Intermediate calculations.) 1 The adjustment for depreciation at the end of 2019 2. The two expenditures during 2020 for (a) the major overhaul of the equipment and i repairs and maintenance. Event Date 2019 Asses Stockboders Epily 2020 2020