Jakes Mechanics owns the following long-lived assets:

Asset		Date Purchased		Cost		Estimated Useful Life
Building		January 1, 2014		$70,750		25 years
Vehicles		December 31, 2017		36,500		10 years
Equipment		July 1, 2016		12,160		8 years

Prepare depreciation adjusting entries for Jakes Mechanics for the year ended December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title to record depreciation expense for building on December 31	enter a debit amount	enter a credit amount
	enter an account title to record depreciation expense for building on December 31	enter a debit amount	enter a credit amount
	(To record depreciation expense for building.)
Dec. 31	enter an account title to record depreciation expense for vehicles on December 31	enter a debit amount	enter a credit amount
	enter an account title to record depreciation expense for vehicles on December 31	enter a debit amount	enter a credit amount
	(To record depreciation expense for vehicles.)
Dec. 31	enter an account title to record depreciation expense for equipment on December 31	enter a debit amount	enter a credit amount
	enter an account title to record depreciation expense for equipment on December 31	enter a debit amount	enter a credit amount
	(To record depreciation expense for equipment.)

eTextbook and Media

List of Accounts

For each asset, calculate its accumulated depreciation and carrying amount at December 31, 2021.

		Building		Vehicles		Equipment
Cost		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Less: Accumulated Depreciation		enter a dollar amount		enter a dollar amount		enter a dollar amount
Carrying amount		$enter a total amount		$enter a total amount		$enter a total amount