Determine the Depreciation expense for 2019 and 2020. (IFRS)The Airplane was acquired on October 1,...
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Accounting
Determine the Depreciation expense for 2019 and 2020. (IFRS)
The Airplane was acquired on October 1, 2019.
for the depreciation expense of the component: interior of the year 2019. The depreciation expense should only be for the months of October, November and December.
For 2020 the expense includes the 12 months.
AIRPLANE
COMPONENT | COST | RESIDUAL VALUE | TOTAL ACTIITY | 2019 ACTIVITY | 2020 ACTIVITY |
| $1,000,000 | $100,000 | flying hours 50,000 |
7,000 |
5,000 |
| $2,000,000 | $0 | machine hours 25,000 |
7,000 |
5,000 |
| $500,000 | $75,000 | 10 years |
|
|
| $3,500,000 |
|
|
|
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