Victor Mineli, the new controller of Cullumber Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2025. Here are his findings: Type of Asset Building Warehouse Date Acquired Jan. 1, 2017 Jan. 1, 2020 Cost $984,500 168,500 Accumulated Depreciation, Jan. 1, 2025 $182,900 32,490 Useful Life (in years) Old 40 25 Proposed 58 20 Salvage Value Old $70,000 6,050 Proposed $36,600 4,400 All assets are depreciated by the straight-line method. Cullumber Company 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 in 2025. (Round answers to 0 decimal places, es. 125.) Victor Mineli, the new controller of Cullumber Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2025. Here are his findings: All assets are depreciated by the straight-line method. Cullumber Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" usefullife is total life, not remaining life.) Prepare the entry to record depreciation on the building in 2025. (List debit entry before credit entry. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter ofor the amounts.)