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erry Wade, the new controller of Hellickson Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2019. His findings are as follows. Accumulated Useful Life Depreciation in Years Type Date Salvage Value Old Proposed Old Proposed 50$40,000 $26,000 5,000 6,000 of Asset Acquired Cost 1/1/19 Building1/1/13 $800,000$114,000 40 25 Warehouse 1/1/14 100,000 19,000 20 All assets are depreciated by the straight-line method. Hellickson Company uses a calendar year in preparing annual financial statements. After discussion, management has agree to accept Terry's proposed changes. Instructions (a) Compute the revised annual depreciation on each asset in 2019. (Show computations.) (b) Prepare the entry (or entries) to record depreciation on the building in 2019