Question 4 2 marks B Co acquired a non-current asset on 1 January 20X2 for $80,000. It had no residual value and a useful life of eight years. On 1 January 20X5, the Company reviewed the useful life of the asset and determined that it will be three years, from now. What will be the depreciation charges for each of the year from 20X2 to 20X5?

Question 1 4 marks Textron Aviation has an aircraft 315A, having the following components. Cost $'000 Useful life Fuselage 20,000 20 years Undercarriage 5,000 500 landings Engines 8,000 1,600 flying hours During the year ended 20X8, 150 flights of 315A were flown totaling 400 hours. Calculate the depreciation charge for the year. Also show the journal entries.

Question 4 2 marks B Co acquired a non-current asset on 1 January 20X2 for $80,000. It had no residual value and a useful life of eight years. On 1 January 20X5, the Company reviewed the useful life of the asset and determined that it will be three years, from now. What will be the depreciation charges for each of the year from 20X2 to 20X5? Question 1 4 marks Textron Aviation has an aircraft 315A, having the following components. Useful life 20 years Fuselage Undercarriage Engines Cost $'000 20,000 5,000 8,000 500 landings 1,600 flying hours During the year ended 20X8, 150 flights of 315A were flown totaling 400 hours. Calculate the depreciation charge for the year. Also show the journal entries