CALCULATOR FUL SCREEN PRINTI VERSIO4 BACK Exercise 11-13 Buffalo Company constructed a building at a cost of $2,354,000 and occupied it beginning in January 1998. It was with no salvage value. estimated at that time that its life would be 40 years, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of In January 2018, a new roof was installed at a cost of $321,000, the old roof was $171,200. What amount of depreciation should have been charged annually from the years 1998 to 20177 (Assume straight-line depreciation. Depreciation from the years 1998 to 2017 SHOW LIST OF ACCOUNTS What entry should be made in 2018 to record the replacement of the roof? (f no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation To record the disposition of the old roof.) .24.10.9 (To record the installation of the new roof.) SHOW LEST OF LINK TO TEXT Prepare the entry in January 2018 to record the revision in the estimated life of the building, if necessary. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit K TO TEXT What amount of depreciation should be charged for the year 2018? Depreciation for the year 2018 (Assume the cost of the old roof is removed) Depreciation for the year 2018 (Assume the cost of the new roof is debited to accumulated depreciation - building) s Version 4.24.10.9