Lindy Weink, the new controller ofCarla VistaCompany, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2021. (Depreciation for 2021 has not been recorded yet.) Her findings are as follows:

Total Useful Life in Years Residual Value

Type of Asset Date Acquired Cost Current Proposed Current Proposed

Building Jan. 1, 2006 $800,200 20 30 $39,700 $60,220

Equipment Jan. 1, 2019 125,060 5 4 4,700 3,560

After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method.Carla VistaCompany has a December 31 year end.

(a)

For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value.

Annual depreciation expense

Building $ per year

Equipment $ per year

(b)

Calculate the carrying amount of each asset as at January 1, 2021.

Carrying amount

Building $

Equipment $

C

For each asset, calculate the revised annual depreciation expense and the carrying amount at December 31, 2021.

Annual depreciation expense

Building$ per year

Equipment $

Carrying amount

Building $

Equipment $