Use the following information to answer the next three questions.
On January 1, 2013, BelgianAir purchases an airplane for €14,400,000.The components of the airplane and their useful lives are as follows:
$\begin{array}{|c|c|c|}
\hline \text { Component } & \text { Cost } & \text { Usefull life } \
\hline \text { Frame } & € 7,200,000 & 24 \text { years } \
\hline \text { Engine } & 4,800,000 & 20 \text { years } \
\hline \text { Other } & 2,400,000 & 10 \text { years } \
\hline
\end{array}$ BelgianAir uses the straight-line method of depreciation.The asset is assumed to have no salvage value.
-Under IFRS, the entry to record depreciation expense on the asset at December 31, 2014 will include a credit to accumulated depreciation of

Question

Use the following information to answer the next three questions.
On January 1, 2013, BelgianAir purchases an airplane for €14,400,000.The components of the airplane and their useful lives are as follows:
 $\begin{array}{|c|c|c|}
\hline \text { Component } & \text { Cost } & \text { Usefull life } \
\hline \text { Frame } & € 7,200,000 & 24 \text { years } \
\hline \text { Engine } & 4,800,000 & 20 \text { years } \
\hline \text { Other } & 2,400,000 & 10 \text { years } \
\hline
\end{array}$ BelgianAir uses the straight-line method of depreciation.The asset is assumed to have no salvage value.
-Under IFRS, the entry to record depreciation expense on the asset at December 31, 2014 will include a credit to accumulated depreciation of

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The Answer of Use the following information to answer the next three questions.
On January 1, 2013, BelgianAir purchases an airplane for €14,400,000.The components of the airplane and their useful lives are as follows:
 $\begin{array}{|c|c|c|}
\hline \text { Component } & \text { Cost } & \text { Usefull life } \
\hline \text { Frame } & € 7,200,000 & 24 \text { years } \
\hline \text { Engine } & 4,800,000 & 20 \text { years } \
\hline \text { Other } & 2,400,000 & 10 \text { years } \
\hline
\end{array}$ BelgianAir uses the straight-line method of depreciation.The asset is assumed to have no salvage value.
-Under IFRS, the entry to record depreciation expense on the asset at December 31, 2014 will include a credit to accumulated depreciation of

Use the Following Information to Answer the Next Three Questions