Answer Happy

Kojax Ltd bought an airplane for $1.3 billion on October 1, 2019. The value of the plane is recorded with reference to its four main components. The plane's fuselage has a useful life of 40 years, while the engine, wings, and empennage have useful lives of 25, 13, and 10 years respectively. Of the total purchase price, the fuselage, engine, wings, and empennage account for cost in the ratio of 30:35:25:10 respectively. The entity depreciates all assets using a straight line basis down to a nil residual value. Required: Determine the carrying value of the entire airplane as at March 31, 2022, the end of the current financial year. Your answer should include the net book values of each component Recommended time: 35 minutes