Frank White the new controller of Youngman Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2015. His findings are as follows.

									Useful Life (in Years)					Salvage Value
Type of Asset		Date Acquired		Cost		Accumulated Depreciation, 1/1/15			Old		Proposed			Old		Proposed
Building		1/1/09		$1,600,000		$228,000			40		50			$80,000		$52,000
Warehouse		1/1/10		207,000		40,000			25		20			7,000		5,000

All assets are depreciated by the straight-line method. Youngman Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Franks proposed changes.

Compute the revised annual depreciation on each asset in 2015. Type of Asset Building Warehouse Revised annual depreciation Prepare the entry to record depreciation on the building in 2015. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31