Please help with question 3 (creating a straight-line depreciation table for the equipment for all 7 years). Thanks!!!

The vehicle and equipment that Fido's Food Mart purchased both require annual depreciation. It is determined that the vehicle has a 5 -year useful life with an $850 residual value, and the equipment has a 7 -year useful life with a $1,150 residual value. Both long-term assets use straight-line depreciation. Required: 1. Create a depreciation table for the vehicle for all five years showing the annual depreciation and ending book value for each of years 1 - 5. (NOTE: Recall that the vehicle was purchased on October 31.) 2. Record the adjusting journal entry for annual vehicle depreciation. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-Accounts with beginning balances, transactions, and end balances. 3. Create a depreciation table for the Equipment for all seven years showing the annual depreciation and ending book value for each of years 17. (NOTE: Recall that the equipment was put into service on September 1.) 4. Record the adjusting journal entry for annual equipment depreciation. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-Accounts with beginning balances, transactions, and end balances. 5. Prepare a new Adjusted Trial Balance and highlight the accounts and amounts changed. The vehicle and equipment that Fido's Food Mart purchased both require annual depreciation. It is determined that the vehicle has a 5 -year useful life with an $850 residual value, and the equipment has a 7 -year useful life with a $1,150 residual value. Both long-term assets use straight-line depreciation. Required: 1. Create a depreciation table for the vehicle for all five years showing the annual depreciation and ending book value for each of years 1 - 5. (NOTE: Recall that the vehicle was purchased on October 31.) 2. Record the adjusting journal entry for annual vehicle depreciation. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-Accounts with beginning balances, transactions, and end balances. 3. Create a depreciation table for the Equipment for all seven years showing the annual depreciation and ending book value for each of years 17. (NOTE: Recall that the equipment was put into service on September 1.) 4. Record the adjusting journal entry for annual equipment depreciation. a. Show the balancing effects on the accounting equation b. Record the adjusting journal entry in two-line format using a debit and a credit. c. Show T-Accounts with beginning balances, transactions, and end balances. 5. Prepare a new Adjusted Trial Balance and highlight the accounts and amounts changed