Terry Wade, the new controller of Hellickson Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2015. His findings are as follows.

		Date				Accumulated Depreciation		Useful life in Years				Salvage Value
Type of Asset		Acquired		Cost		1/1/15		Old		Proposed		Old		Proposed
Building		1/1/09		$806,700		$115,410		40		50		$37,300		$50,210
Warehouse		1/1/10		114,000		21,940		25		20		4,300		19,610

All assets are depreciated by the straight-line method. Hellickson Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Terrys proposed changes.

1.)Compute the revised annual depreciation on each asset in 2015. ( Building and Warehouse)

2.)Prepare the entry to record depreciation on the building in 2015. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)