=+E3-24 Adjustment for depreciation Obj 3 The estimated amount of depreciation on equipment for the current year is $9,000.

(a) How is the adjustment recorded? Indicate each account affected, whether the account is increased or decreased, and the amount ofthe increase or decrease,

(b) Ifthe adjustment in

(a) was omitted, which items would be erroneously stated on (1) the income statement for the year and (2) the balance sheet as ofDecember 31?