On January 1, 2017, Concord Company purchased a building and equipment that have the following useful lives, salvage values, and costs.

Building, 40-year estimated useful life, $ 49,200 salvage value, $ 787,600 cost

Equipment, 12-year estimated useful life, $ 10,000 salvage value, $ 99,100 cost

The building has been depreciated under the double-declining-balance method through 2020. In 2021, the company decided to switch to the straight-line method of depreciation. Concord also decided to change the total useful life of the equipment to 9 years, with a salvage value of $ 5,200 at the end of that time. The equipment is depreciated using the straight-line method. (a) Prepare the journal entry necessary to record the depreciation expense on the building in 2021.

(b) Compute depreciation expense on the equipment for 2021.

2021 Depreciation expense =