E10-8 Jerry Grant, the new controller of Blackburn Company, has reviewed the expected useful

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Jerry Grant, the new controller of Blackburn Company, has reviewed the expected useful
lives and salvage values of selected depreciable assets at the beginning of 2008. His findings
are as follows.



All assets are depreciated by the straight-line method. Blackburn Company uses a calendar year
in preparing annual financial statements. After discussion, management has agreed to accept
Jerry’s proposed changes.

Instructions
(a) Compute the revised annual depreciation on each asset in 2008. (Show computations.)
(b) Prepare the entry (or entries) to record depreciation on the building in 2008