Test your understanding 4 Coco acquired two non-current assets for cash on 1 August 20X5 for use in her party organising business: a property with a 25-year useful life for $200,000 with no expected residual value a chocolate fountain for $4,000. The fountain is to be depreciated at 25% pa using the reducing balance method. A full year of depreciation is charged in the year of acquisition and none in the year of disposal. Show the ledger account entries for these assets for the years ending 31 October 20X5, 20X6 and 20x7