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Exercise 11-12 In 1993, Vaughn Company completed the construction of a building at a cost of $2,300,000 and first occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $69,600 at the end of that time. Early in 2004, an addition to the building was constructed at a cost of $575.000. At that time, it was estimated that the remaining Ife of the building would be, as originally estimated, an additional 30 years, and that the addition would have all of 30 years and a savage value of $23,000 In 2022 is determined that the probable of the building and addition will extend to the end of 2053 or 20 years beyond the original estimate Using the straight-line method, compute the annual depreciation that would have been charged from 1994 through 2003. Annual depreciation from 1994 through 2003 OW LIST OF ACCOUNTS Compute the depreciation that would have been charged from 2004 through 2022 Annual depreciation from 2004 through 2021 Prepare the entry, if necessary, to adjust the account balances because of the revision of the estimated te in 2021. (If no entry is required, select "No entry" for the accounties and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Tities and Explanation SHOW LIST OF ACCOUNTS Compute the annual depreciation to be charged, beginning with 2022. (Round answer to 0 decimal places. 18,892) Annual depreciation expense-building Click if you would like to show Work for this question on S W OF ACCOUNTS Question Attempts: 0 of 10 used

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