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Weygandt, Financial Accounting, 10e PRINCIPLES OF ACCOUNTN debook ORION Downloadable eTextbok ctice nment CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER VERSION Exercise 9-8 Terry Wade, the new controller of Whispering Winds Corp, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2019. His findings are as follows. Accumulated Depreciation Useful life in Years Date Salvage Value Type of Asset Acquired Cost Building Warehouse 1/1/14 115,000 All assets are depreciated str 1/1/19 old Proposed Old Proposed 50 $42,000 $57,500 20 4,800 26,960 1/1/13 $816,000 $116,100 40 22,040 25 ed by the straight-line method. Whisperning winds Corp. uses a calendar year in preparing annu al financial statements. After discussion, management has agreed to accept Terry's proposed chang Compute the revised annual depreciation on each asset in 2019 Building Warehouse Revised annual depreciations prepare the entry to record depreciation on the buiding in 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 All Rights Reserved. A Division of John Wisy &onan