Question 4 of 5

Question 4 of 5 -110 Victor Mineli. the new controller of Wildhorse has reviewed the expected useful lives and selvage values of selected depreciable assets at the beginningof 2017 _ Here are his findings: Type of Building Warehouse Useful Life (in years) Salvage Value Date Acquired Jan. 1, 2009 Jan. 1, 2012 124,000 Accumulated Depr eci ation , Jan. 1, 2017 s 185,200 23,590 Old 40 25 Proposed s 59,000 Pr oposed $36,100 All assets are depreciated by the straight-line method. Wildhorse Co. uses a calendar year in preparing annual financial statements. After discussion. management has agreed to accept Victor's proposed changes. (The 'Proposed" useful life is total life, not remaining life.) Compute the revised annual depreciation on each asset i n 2017. (Round answ to O decimal e.g. 125.) Building 15274 Warehouse Revised annual depreciation eTextbook and Media Prepare the entry to record depreciation on the building in 2017. (Round too decirMI e.g. 125 Crdit RCOunt titles are autontica/ly iMented when arnmt is entered DO rnt iMent n-nnua//y. If entry is requir4 select NO Entry fr XCa_mt titks enter O fr Account Titles and Explanation Depreciation Expense Accumulated Depreciation-Suildings eTextbook and Media Save for Later Credit 15274 Attempts: O of I used