Question 11 View Policies 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 2022. Here are his findings: Useful Life (in years) Type of Date Asset Acquired Cost Building Jan 1, 2014 $975,500 Warehouse Jan. 1.2017 125,000 Accumulated Depreciation, Jan. 1,2022 $183.700 23.960 Old 40 25 Proposed 58 2 0 Salvage Value Old Proposed $57,000 $35,300 5,200 4890 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 2022. Round answers to decimal places. e. 125 Building Warehouse Revised annual depreciation $ $ e Textbook and Media List of Accounts e Textbook and Media List of Accounts 125. Credit accounts are automatically indented when amount is entered. Do not indent manual Prepare the entry to record depreciation on the building in 2022. Round answers to decimal places no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Textbook and Media List of Accounts Attempts: 0 of 2 used Sub Using multiple attempts will impact your score, 25% score reduction after attempt 1