E11.14 (LO 1) (Error Analys is and Depreciation, SL and SYD) Mike Devereaux Company shows the following entries in its Equipment account for 2021. All amounts are based on historical cost. Equipment d. 2021 2021 June 30 Cost of equipment sold (purchased prior to 2021) nbe o23,000 134,750 1 Balance Jan. bod Aug. 10 Purchases 12 Freight on equipment purchased 25 Installation costs 32,000 700 2,700 Nov. 10 Repairs 500 Bebrgc Instructions a. Prepare any correcting entries necessary. sulay svis bet b. Assuming that depreciation is to be charged for a full year on the ending balance in the asset ac- count, compute the proper depreciation charge for 2021 under each of the methods listed below. Assume an estimated life of 10 years, with no salvage value. The machinery included in the January 1 2021, balance was purchased in 2019. enolbuni 1. Straight-line. 2. Sum-of-the-years'-digits