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Victor Mine, the new controller of Blossom Company has reviewed the expected useful lives and ulvage values of selected depreciable assets at the beginning of

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Victor Mine, the new controller of Blossom Company has reviewed the expected useful lives and ulvage values of selected depreciable assets at the beginning of 2022. Here we his findings Useful Leon years Type of Asset Date Acquired Accumulated Depreciation Jan 1, 2022 Cost Old Proposed Salvage Value Old Proposed $35,300 Building Jan. 1. 2014 $1,000 $174.300 40 58 Warehouse Jan 1, 2017 164.000 31.780 25 20 5.100 3.220 All assets are depreciated by the straight-line method. Blossom Company uses a calendar year in preparing annual financial statements. Alter discussion management has wreed to accept Victor's proposed changes. The propose d'unefullestolnot remaining life) Your answer is partly correct Compute the revised annual depreciation on each asset in 2022. Rounders to decimal places, eg: 125) Building Warehouse Revised annual depreciations 1825 00 - Your answer is partially correct. Prepare the entry to record depreciation on the building in 2022. (Round answers to decimal places, eg. 125. Credit account titles are automatically indented when an enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 18285 Accumulated Depreciation-Buildings 18285

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