Victor Mineli, the new controller of Wildhorse Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Type of Asset Building Warehouse Date Acquired Jan. 1, 2014 Jan. 1, 2017 Cost $985,000 124,000 Accumulated Depreciation, Jan. 1, 2022 $185,200 Revised annual depreciation $ 23,590 Useful Life (in years) Building Old 40 25 Proposed 58 $ 20 Salvage Value Old Warehouse $59,000 Compute the revised annual depreciation on each asset in 2022. (Round answers to O decimal places, e.g. 125.) 6,050 All assets are depreciated by the straight-line method. Wildhorse Co. 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.) Proposed $36,100 4,410

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Victor Mineli, the new controller of Wildhorse Co, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022 . Here are his findings: All asset are depreciated by the straight-line method. Wildhorse Co. 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 2022. (Round answers to 0 decimal ploces, es. 125.) Prepare the entry to record depreciation on the building in 2022. (Round answers to 0 decimal places, eg. 125. Credit account tit are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account and enter 0 for the amounts.)