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of SCICO Accumulated Depreciation Useful life in Years Salvage Value Date Type of Asset uilding...

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Accounting

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of SCICO Accumulated Depreciation Useful life in Years Salvage Value Date Type of Asset uilding tarehouse Acquired 1/1/14 1/1/15 Cost $800.000 100,000 1/1/20 $114,000 19.000 Old 40 25 Proposed 50 20 Old $10,000 5.000 Proposed $26.000 6,000 All assets are depreciated by the straight-line method. Helickson Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Terry's proposed changes. Compute the revised annual depreciation on each asset in 2020. Building Revised annual depreciation Warehouse eTextbook and Media List of Accounts Prepare the entry to record depreciation on the building in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Date Account Titles and Explanation Dec. 31

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