E9-4 (Algo) Recording Straight-Line Depreciation and Repairs [LO 9-2, LO 9-3] Wiater Company operates a small manufacturing faclity. On January 1, 2021, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) 5. 250,000 114,808 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipneat 5,3,050 Hajor overhaul of the equipment that improved efficlency 36, e The equipment is being depreciated on a straight-line basis over an estimated life of 10 years with a $22,000 estimated residual value. The annul accounting period ends on December 31 . Required: Required: Indicate the effects (accounts, amounts, and + for increase and - for decrease) of the foliowing two items on the accounting equation, using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus sign.) 1. The odiustment for depreciation made last year at the end of 2020. 2. The two expenditures for repairs and maintenance during January 2021. E9-4 (Algo) Recording Straight-Line Depreciation and Repairs [LO 9-2, LO 9-3] Wiater Company operates a small manufacturing faclity. On January 1, 2021, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) 5. 250,000 114,808 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipneat 5,3,050 Hajor overhaul of the equipment that improved efficlency 36, e The equipment is being depreciated on a straight-line basis over an estimated life of 10 years with a $22,000 estimated residual value. The annul accounting period ends on December 31 . Required: Required: Indicate the effects (accounts, amounts, and + for increase and - for decrease) of the foliowing two items on the accounting equation, using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus sign.) 1. The odiustment for depreciation made last year at the end of 2020. 2. The two expenditures for repairs and maintenance during January 2021