u ulo baie Urute machine on 1 July 2014. 25 Malibu Ltd acquired a building on 1 July 2007 at a cost of 800,000. The useful life of the building was estimated as 20 years with no residual value. Malibu Ltd used the straight-line method of depreciation. On 30 June 2013 the esti- mate of the useful life of the building was revised to 15 years. LO 5.3 REQUIRED Prepare journal entries for depreciation of the building for the years ended 30 June 2012, 2013 and 2014, and state the carrying amount of the building at the end of each of the three reporting periods