Recording Depreciation Error Correction Whitney Company purchased equipment on January 1, 2020, for $99,000. This equipment has a useful life of ten years and a residual value of $5,500. The company uses the straight-line depreciation method. In 2021, the company discovered that it had incorrectly recorded depreciation for 2020 as $6,380. Ignoring income taxes, record the correcting entry on January 1, 2021. Date Account Name Jan. 1, 2021 Retained EarningsPrior Period Adjustment 9,350 X Accumulated Depreciation 0 9,350 x Dr. Cr. 0 Computing Partial Period Depreciation Using Multiple Depreciation Methods On May 31, 2020, DHS Company acquired equipment for $16,000. The expected useful life is 5 years and the residual value is $320. Compute depreciation expense in 2020 under the following methods. Note: Round your answers to the nearest whole dollar. 0 x a. Straight-line $ b. Sum-of-the-years'-digits $ C. Double-declining-balance $ 0 x 0 x