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as follows. ofitroller of Larkspur, Inc., has reviewed the expected useful lives and salvage values of s Accumulated Useful life Date Depreciation in Years Salvage Value Type of Asset Acquired Cost 1/1/19 Old Proposed Old Proposed Building 1/1/13 $802,000 $114,000 40 50 $42,000 , $28,000 Warehouse 1/1/14 115,000 22,200 25 20 4,000 31,300 udy All assets are depreciated by the straight-line method. Larkspur, Inc. uses a calendar year in preparing annual fin accept Terry's proposed changes. Compute the revised annual depreciation on each asset in 2019. Building Warehouse Revised annual depreciation $ Prepare the entry to record depreciation on the building in 2019. (Credit account titles are automatically inden entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Privacy Policy. | 2000-2020 John Wiley & Sons, Inc. All Rights Reserves, A Division of John Willey & Sons, Inc. e to search