On January 1, 2011, McElroy Company purchased a building and equipment that have the following useful lives, residual values, and costs.

Building, 40-year estimated useful life, 50,000 residual value, 1,200,000 cost

Equipment, 12-year estimated useful life, 10,000 residual value, 130,000 cost

The building has been depreciated under the double-declining-balance method through 2014. In 2015, the company decided to switch to the straight-line method of depreciation. McElroy also decided to change the total useful life of the equipment to 9 years, with a residual value of 5,000 at the end of that time. The equipment is depreciated using the straight-line method.

a) Prepare the journal entry(ies) necessary to record the depreciation expense on the building in 2015.

b) Compute depreciation expense on the equipment for 2015.