Wiater Company operates a small manufacturing facility. On January 1, 2015, an asset account for the company showed the following balances: Equipment $ 160,000 Accumulated Depreciation (beginning of the year) 100,000 During the first week of January 2015, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment $ 1,850 Major overhaul of the equipment that improved efficiency 24,000 The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $10,000 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 Stockholders' Equity with a minus sign.) 1. The adjustment for depreciation made last year at the end of 2014. 2. The two expenditures for repairs and maintenance during January 2015.

Items Assets = Liabilites + Stockholders Equity

2014 ------ ------ ------

2015 ------ ------ --------

If your could please put the label next to the number so where the label represents the number next to it when filling in the blanks of the chart above that would be appreciated. Thanks.