CALCULATOR PRINTER VERSION BACK NEXT Exercise 9-07 Victor Mineli, the new controller of Blossom Company, 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 $941,000 164,000 Accumulated Depreciation, Jan. 1, 2022 $174,300 31,780 Useful Life (in years) Old Proposed 40 58 25 20 Salvage Value old Proposed $69,500 $35,300 5,100 3,220 All assets are depreciated by the straight-line method. Blossom 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 2022. (Round answers to decimal places, ... 125.) Building Warehouse Revised annual depreciation $ $ SHOW LIST OF ACCOUNTS Prepare the entry to record depreciation on the building in 2022. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation-Buildings Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor