Saved mework Assignment 2 Required information E9-17 (Supplement 9B) Determining Financial Statement Effects of a Change in [The following information applies to the questions displayed below.) Water Company operates a small manufacturing facility, On January 1, 2018, an asset account the following balances: Equipent Accumulated Depreciation (beginning of the year) $160,000 100,000 During the first week of January 2018, the following expenditures were incurred for repairs and Routine maintenance and repairs on the equipment Hajor overhaul of the equipment that improved efficiency $ 1,850 24.000 The equipment is being depreciated on a straight line basis over an estimated life of 15 years with a residual value. The annual accounting period ends on December 31 E9-17 Part 2 2. Prepare the adding entry that should be made at the end of 2018 for depreciation (If no entry is require