Surat mited podcasts to acquire an ancrat on January 1, 2020, at a cost of 30,900,000 rupees. The aircraft has an estimated useful life of 50 years and no salvage volue. The company has determined that the aircraft is composed of three significant components with the following original costs in rupees) and estimated useful lives lace Engine 10,200,000 100.00 The US parent of Surat does not depreciate assets on a component basis, but instead deprecates assets over their estimated useful life while Assume that a foreign company Using IFRS is owned by a company using US GAAP. ThusIFRS balance must be converted to us. GAAP to prepare consolidated financial statements, Ignore Income taxes Required: Prepare Journal entries for this craft for the years ending December 31, 2020, and December 31, 2024 under (IFRS and (2) US b. Prepare the entry on that the US.parent would make on the December 31, 2020. and December 31, 2021, conversion worksheets to convertirs balances to US GAAP this uestion by entering your answers in the tabs below: Journal entry worksheet Record the entry for the cost of aircraft on its purchase as per IFRS, Note: Enter debits before credits Date 01012020 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the entry for the depreciation of aircraft as per IFRS. Note: Enter debits before credits General Joumal Debit Credit Date 12/31/2020 Record entry Clear entry View general journal Journal entry worksheet co Record the entry for the cost of aircraft on its purchase as per U.S. GAAP. Note: Enter debits before credits Date General Journal Debit Credit 01/01/2020 Record entry Clear entry View general journal Journal entry worksheet Record the entry for the depreciation of aircraft as per U.S. GAAP. Note: Enter debits before credits: Date General Journal Debit Credit 12/31/2021 Record entry Clear entry View general journal Journal entry worksheet