Question 6 Gunther Plc provides the following information on its acquisitions of non-current assets: (1) A non-current asset (asset a) was acquired on 1 January 2016 for 100,000. It had no residual value and a useful economic life of 10 years. On 1 January 2019, the useful economic life was revised to 6 years. The company depreciates similar assets using the straight line method. 2) A non-current asset (asset b) was acquired for 12,500 at the beginning of 2017. It had a useful economic life of 5 years and no residual value. On 1 January 2019 the asset was revalued to 15,000. The useful economic life remains unchanged. The company depreciates similar assets using the straight line method. (3) A non-current asset (asset c) was acquired for 25,000 at the beginning of 2017. It had a useful economic life of 5 years and no residual value. On 1 January 2019 the asset was revalued to 30,000. The useful economic life remains unchanged. Asset c was sold on 31 December 2019 for 16,000. The company depreciates similar assets using the straight line method. Required: (a) How would each of the transactions (1) to (3) be accounted for in 2019