No entries for depreciation of plant assets have been recorded for 2021. The following information is available to help you record depreciation. The useful life column represents the asset life that was estimated at the time of acquisition. Your company uses straight-line depreciation and depreciates assets to the nearest whole month in use during the year. The company uses the LIFO inventory method with lower of cost or net realizable value applied to individual items. Prepare end of year adjusting entries, corrections, and any other necessary entries necessary to prepare accurate financial statements for 2021.

Asset	Original Cost	Residual Value	Useful Life	Comments
Building	$180,000	0	20 yrs.	3 yrs of depreciation has been recorded prior to 2021
Assets in the Equipment account:	Original Cost	Residual Value	Useful Life	Comments
Computer Equipment	$20,000	2,000	5 yrs.	3 yrs of depreciation has been recorded prior to 2021
Computer Equipment not in service	$6,000	0	5 yrs.	This is the computer that was taken out of service described in #7 above
Network Servers	10,000	800	4 yrs.	Placed in service on 3/26/21
Network Accessories	12,000	0	6 yrs.	3 yrs of depreciation has been recorded prior to 2021. At the beginning of 2021, the company determined that the accessories will probably need to be replaced after 2 more years.
Network Hub	13,000	600	3 yrs.	Placed in service on 11/28/20. The asset was recorded in the Equipment account when purchased; however, due to an oversight, no depreciation has been recorded on this asset in 2020 or 2021.
Total Equipment	$61,000