The building has been depreciated under the striaght-line method through 2012. in 2013, the company decide to switch to the double-declining balance method of depreciation for the building. Powell also decided to change the total useful life of the machinery to 8 years, with a salvage value of $35,000 at the end of that time. The machinery is depreciated using the straight-line method.
a) Prepare the journal entry necessary to record the depreciation expense on the building in 2013.
b) Compute depreciation expense on teh machinery for 2013.