Jakes Mechanics owns the following long-lived assets: Asset Date Purchased Cost Estimated Useful Life Building January 1, 2014 $ 57,400 20 years Vehicles December 31, 2017 43,200 10 years Equipment July 1, 2016 15,100 10 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.)

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