Answer the questions below. Questions $1-5$ do not require journal entries. Question $6$ requires two journal entries. Must show your calculations

$10$

Compute Straight$-$line depreciation for each of the following:

A building was acquired on January $1,2014$ for $$300,000.$ The building has a salvage value of $$25,000$ and a useful life of $55$ years. What is depreciation expense for $2015?$

Equipment was acquired on June $1,2015$ for $$28,000.$ The equipment has a salvage value of $$3,000$ and a useful life of $10$ years. What was depreciation expense for $2015?($Round to the nearest dollar$)$

Equipment was acquired on April $1,2016$ for $$45,000.$ The equipment has a salvage value of $$2,500$ and a useful life of $17$ years. What was depreciation expense for $2017?$

Compute revised depreciation for each of the following:

As$.$ A building was acquired on January $1,2014$ for $$300,000.$ The building has a salvage value of $$25,000$ and a useful life of $55$ years. The building was depreciated using the straight$-$line method. At the end of $2018($before recording the adjustment for $2018),$ management revises the remaining useful life to $30$ years. There is no change to the salvage value. What is the revised annual depreciation?

$5.$ Equipment was acquired on January $1,2015$ for $$65,000.$ The equipment was depreciated using the straight$-$line method and had a salvage value of $$3,000$ and a useful life of $10$ years. At the at end of $2020($before recording the adjustment for $2020).$ management revised the total useful life to $15$ years and a salvage value of $$4,000.$ What is the revised annual depreciation?

Prepare the journal entry for the following:

$6.$ Goldenrod Company sells equipment on September $30,2017,$ for $$22,000$ cash. The equipment originally cost $$65,000$ and as of January $1,2017,$ had accumulated depreciation of $$32,000.$ Depreciation for the first $9$ months of $2017$ is $$5,250.$ Prepare the journal entries to $($a$)$ update depreciation to September $30,2017,$ and $($b$)$ record the sale of the equipment.