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Depreciation method changes from double declining to straight line method. Your answer is...

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Accounting

Depreciation method changes from double declining to straight line method. image

Your answer is partially correct. Try again. On January 1, 2014, Crane Company purchased a building and equipment that have the following useful lives, salvage values, and costs. Building, 40-year estimated useful life, $49,200 salvage value, $787,600 cost Equipment, 12-year estimated useful life, $10,000 salvage value, $99,100 cost depreciation. Crane also decided to change the total useful life of the equipment to 9 years, with a salvage value of s5,200 at the end of that time. The equipment is depreciated using the straight-line method. (a) Prepare the journal entry necessary to record the depreciation expense on the building in 2018. (Round answers to O decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entrys required, selectNo Entryforth account ites and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 20511 Accumulated Depreciation-Building 20511 (b) Compute depreciation expense on the equipment for 2018. (Round answers to O decimal places, e.g. 125.) 2018 Depreciation expense

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