Current Attempt in Progress Victor Mineli, the new controller of Oriole Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2025. Here are his findings: Type of Asset Building Warehouse Date Acquired Jan. 1, 2017 Jan. 1, 2020 Cost $975,500 eTextbook and Media 125,000 List of Accounts Revised annual depreciation $ Accumulated Depreciation, Jan. 1, 2025 $183,700 23,960 Useful Life (in years) Old Proposed 40 Building 25 58 20 Salvage Value Old All assets are depreciated by the straight-line method. Oriole 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 2025. (Round answers to O decimal places, e.g. 125.) Warehouse $57,000 5,200 Proposed $35,300 4,890

Victor Mineli, the new controller of Oriole Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2025 . Here are his findings: All assets are depreciated by the straight-line method. Oriole 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 2025. (Round answers to 0 decimol ploces, es. 125) Prepare the entry to record depreciation on the building in 2025. (List debit entry before credit entry, Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tibles and enter 0 for the amounts