Molina Company's reported net incomes for 2011 and the previous two years are presented below.
2011 2010 2009
$105,000 $95,000 $70,000
2011's net income was properly determined after giving effect to the following accounting changes, error corrections, etc. which took place during the year. The incomes for 2009 and 2010 do not take these items into account and are stated at the amounts determined in those years. Ignore income taxes.

Instructions:
a. For the accounting changes and/or errors described below, prepare the journal entry or entries Molina Company should record during 2011 to adjust for the change and/or error. If no entry is required, write "none."
b. After recording the situation in part (a) above, prepare the year-end adjusting entry for December 31, 2011. If no entry is required, write "none."
Early in 2011, Molina determined that equipment purchased in January, 2009 at a cost of $430,000, with an estimated life of 5 years and salvage value of $30,000 is now estimated to continue in use until December 31, 2015 and will have a $10,000 salvage value. Molina records its 2011 depreciation at the end of 2011.