Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreciation) Refer to the information in E8-5. Required:

Question:

Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreciation) Refer to the information in E8-5.
Required:
Indicate the effects (accounts, amounts, and + or −) of the following on the accounting equation.
Date Assets = Liabilities + Stockholders’ Equity
1. The adjustment for depreciation at the end of 2010.
2. The two expenditures during 2011.