Problem 22-2 (Part Level Submission) Swity Company is in the process of preparing its francial statements for 2017. Assume that no entries for depreciation have been recorded in 2017. The following information to de 1. Swality purchased equipment on January 2, 2014, for $80,400. At that time, the equipment had an estimated We of 10 years with a $5.403 lage vare. The en is deprec 2017, as a result of additional information, the company determined that the equipment has a remaining us e of 4 years with a $1,000 salvage va 2. During 2017, Swifty changed from the double-dedining balance method for its building to the straight line method. The building originally cost $120.000. had aw e of 10 years and computations present depreciation on both bases for 2015 and 2016. f end a tel puddy Oslo age w 1 2.00. The 2016 Straight-line Dedining-balance 2015 $28,800 4.000 51,200 3. Swifty purchased a machine on July 1, 2015, at a cost of $150.000. The machine has a salvage value of $20,000 and as consider the salvage value we of years. Swity's bookkeeper recorded t he line depreciation in 2015 2016 but failed to (a) Prepare the journal entries to record depreciation expense for 2017 and correct any errors made to date related to the information provided. (Egner ) ( C a c t es are automatically indeed whes amount here. No Entry for the accounts and for the amo le. Account Titles and Explanation To co l ore depreciation