(c) Your answer is correct. manually.) Account Titles and Explanation No Entry No Entry Debit Credit 0 What amount of depreciation should be charged for the year 2021 ? Depreciation for the year 2021 (Assume the cost of the old roof is removed) $ Depreciation for the year 2021 (Assume the cost of the new roof is debited to accumulated depreciation - building) $ (b) Your answer is correct. Account Titles and Explanation Accumulated Depreciation-Buildings Loss on Disposal of Plant Assets Buildings (To record the disposition of the old roof.) Buildings Cash Cash (To record the installation of the new roof.) Debit 98400 98400 369000 Credit 196800 369000 Blossom Company constructed a building at a cost of $2,706,000 and occupied it beginning in January 2001 . It was estimated at that time that its life would be 40 years, with no salvage value. In January 2021, a new roof was installed at a cost of $369,000, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of the old roof was $196,800. (a) Your answer is correct. What amount of depreciation should have been charged annually from the years 2001 to 2020? (Assume straight-line depreciation.) Depreciation per year $ (c) Your answer is correct. manually.) Account Titles and Explanation No Entry No Entry Debit Credit 0 What amount of depreciation should be charged for the year 2021 ? Depreciation for the year 2021 (Assume the cost of the old roof is removed) $ Depreciation for the year 2021 (Assume the cost of the new roof is debited to accumulated depreciation - building) $ (b) Your answer is correct. Account Titles and Explanation Accumulated Depreciation-Buildings Loss on Disposal of Plant Assets Buildings (To record the disposition of the old roof.) Buildings Cash Cash (To record the installation of the new roof.) Debit 98400 98400 369000 Credit 196800 369000 Blossom Company constructed a building at a cost of $2,706,000 and occupied it beginning in January 2001 . It was estimated at that time that its life would be 40 years, with no salvage value. In January 2021, a new roof was installed at a cost of $369,000, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of the old roof was $196,800. (a) Your answer is correct. What amount of depreciation should have been charged annually from the years 2001 to 2020? (Assume straight-line depreciation.) Depreciation per year $