On January 1,2016,BelgianAir purchases an airplane for €14,400,000.The components of the airplane and their useful lives are as follows: BelgianAir uses the straight-line method of depreciation.The asset is assumed to have no salvage value.
Under IFRS,the entry to record the acquisition of the airplane would include

Question

On January 1,2016,BelgianAir purchases an airplane for €14,400,000.The components of the airplane and their useful lives are as follows:  BelgianAir uses the straight-line method of depreciation.The asset is assumed to have no salvage value.
Under IFRS,the entry to record the acquisition of the airplane would include

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The Answer of On January 1,2016,BelgianAir purchases an airplane for €14,400,000.The components of the airplane and their useful lives are as follows:  BelgianAir uses the straight-line method of depreciation.The asset is assumed to have no salvage value.
Under IFRS,the entry to record the acquisition of the airplane would include

On January 1,2016,BelgianAir Purchases an Airplane for €14,400,000