Building: cost of $800,000; estimated useful life of 10 years with no residual value The building has been depreciated using the accelerated method at the rate of 30% per annum for the first 3 years. In 2020, the company decided to change the depreciation rate to 40% per annum with the estimated residual value of $30,000, with no change in the useful life. Prepare the journal entry to record depreciation expenses for the building in 2020? b, In accordance with the change in the value of annual depreciation, what will be the adjustment to the retained earning at the beginning of 2020?