Wiater Company operates a small manufacturing facility. On January 1, 2021, an asset account for the company showed the following balances Equipment $ 375,000 Accumulated Depreciation (beginning of the year) 258,750 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance Routine maintenance and repairs on the equipment $ 3.850 Major overhaul of the equipment that improved efficiency 44,000 The equipment is being deprecated on a straight-line basis over an estimated life of 20 years with a $30.000 estimated residual value. The annual accounting period ends on December 31 Required: Indicate the effects (accounts, amounts, and for increase and for decrease) of the following two items on the accounting equation using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus sign.) 1. The adjustment for depreciation made last year at the end of 2020 2. The two expenditures for repairs and maintenance during January 2021 Check my werk 1. The adjustment for depreciation made last year at the end of 2020. 2. The two expenditures for repairs and maintenance during January 2021 Item Assets Liabilities Stod 2020 2021 2021 - Prev 1 of 3 Next > Check my werk nd of 2020 19 January 2021 Liabilities Stockholders' Equity LLL --- DO Prey 103 Next >