Problem 11-9 On April 30, 2020, Whispering Winds Corporation ordered a new passenger ship, which was delivered to the designated cruisport and available for use as of June 30, 2020. Or, the cost of the ship Wos $96 million, with an estimated useful life of 12 years and residual value of $30 million, Whispering Winds expects that the new shoes a whole, will provide its greatest economic benefits in Its early years of operation. After further research and discussion with management, it is determined that the ship consists of major parts with offering useful lives, residuals and patterns of providing economic benefits: Pattern of Total output Part Cost Useful life Residual value benefits (nautical miles) Engines (6) 5945,000 per engine 8 years $120,000 per engine Varies with activity 6 million Hull $3,850,000 10 years $500,000 Highest in early years 7.50 million Body $86.48 million 15 years $15.92 million Evenly over life of body 12.50 million The ship's first voyage took place on August 1, 2020. The ship sailed a total of 324,000 nautical miles in 2020. Whispering Windo prepares financial statements in accordance with IFRS Prepare the journal entry to record the purchase of the ship, assuming that Whispering Winds peld cash for the purchase. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation June 30, 2020 > > > > LINK TO TEXT LIR TO TEXT 14 Backup: Kieso, Intermediate Accounting, 12CE Helal System Announcements PRINTER VERSION BACK NEXT v v LINK TO TEXT LINK TO TEXT Prepare the foumal entries to record depreciation expense for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry le required, select "No Entry" for the account titles and enter o for the amounts. Do not round Intermediate calculations. Round answers to o decimal places, eg. 5,275) Debit Credit Date Account Titles and Explanation December 31, 2020 To record depreciation on Ships Engines) December 31, 2020 (To record depreciation on Ships Hull) December 31, 2020 To record depreciation on Ships Body LINK TO TEXT LINE TO TERT SUBMIT ANSWER Question Attempt of used DD 00 41