Instructions (3) Compute the revised annual depreciation on each asset in 2010. (Show computations.) (1)) Prepare the entry (or entries) to record depreciation on the building in 2010. E1 0-93 Jan. 1 June 30 Dec. 31 Presented below are selected transactions at Gene Company for 2010. Retired a piece of machinery that was purchased on January 1, 2000. The machine cost $75,000 on that date. It had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2007. The computer cost $30,000. It had a useful life of 5 years with no salvage value. The computer was sold for $10,500. Discarded a delivery truck that was purchased on January 1, 2006. The truck cost $40,000. It was depreciated based on a 6year useful life with a $4,000 salvage value