View Policies Current Attempt in Progress Jake's Mechanics owns the following long-lived assets: Asset Building Vehicles Equipment Date Purchased January 1, 2014 December 31, 2017 July 1 2016 Cost $49,800 31.080 16.000 Estimated Useful Life 20 years 7 years 10 years Prepare depreciation adjusting entries for Jake's Mechanics for the year ended December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record depreciation expense for building) Dec. 31 automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Credit Debit Account Titles and Explanation Dec. 31 (To record depreciation expense for building.) Dec. 31 (To record depreciation expense for vehicles.) Dec. 31 (To record depreciation expense for equipment.) For each asset, calculate its accumulated depreciation and carrying amount at December 31, 2021. For each asset, calculate its accumulated depreciation and carrying amount at December 31, 2021. Building Vehicles Equipment Cost $ $ $ Less: Accumulated Depreciation Carrying amount $ $ $