Jerry Grant, the new controller of Blackburn Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2011. His findings are as follows.

			Accumulated	Useful Life
Type	Date		Depreciation	in Years		Salvage Value
of Asset	Acquired	Cost	1/1/11	Old	Proposed	Old	Proposed
Building	1/1/05	$819,000	$117,465	40	50	$35,900	$55,967
Warehouse	1/1/06	101,260	19,372	25	20	4,400	11,908

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

Compute the revised annual depreciation on each asset in 2011.

Building

Warehouse

Prepare the entry to record depreciation on the building in 2011

Dec.31