A company X uses IFRS. The company is VAT-taxpayer (input VAT is refundable). The company made...

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A company X uses IFRS. The company is VAT-taxpayer (input VAT is refundable). The company made in 2.2019 (month.year) following transactions: 1. There purchased the machine - the invoice states the amount to be paid at 282'000 PLN. That amount includes VAT of 23% VAT. 2. The cost of transport of the machine to the company (transport made by the company X) - amount 8'000 PLN. 3. Accrued salaries of administrative personnel (accountants, managerial employees) - 25'000 PLN. 4. Accrued salaries of technical employees, who prepared the place for the machine and made its installation - amount 9'000 PLN. 5. Received an invoice for training of employees, who will operate the machine (the training was conducted by external company). The invoice states the amount to be paid (including 23% VAT) - 9'000 PLN. 6. Used up materials in installation process of the machine. The value of materials used was 9'000 PLN. The materials were taken from warehouse. 7. At the end of the month the machine was taken into active use. 8. The company sold its services at 31'000 PLN. Task: Calculate the initial value of the machine under IFRS. The answer should be round up to full unit (PLN) and should not include currency, comas, dots, apostrophes etc. A company X uses IFRS. The company is VAT-taxpayer (input VAT is refundable). The company made in 2.2019 (month.year) following transactions: 1. There purchased the machine - the invoice states the amount to be paid at 282'000 PLN. That amount includes VAT of 23% VAT. 2. The cost of transport of the machine to the company (transport made by the company X) - amount 8'000 PLN. 3. Accrued salaries of administrative personnel (accountants, managerial employees) - 25'000 PLN. 4. Accrued salaries of technical employees, who prepared the place for the machine and made its installation - amount 9'000 PLN. 5. Received an invoice for training of employees, who will operate the machine (the training was conducted by external company). The invoice states the amount to be paid (including 23% VAT) - 9'000 PLN. 6. Used up materials in installation process of the machine. The value of materials used was 9'000 PLN. The materials were taken from warehouse. 7. At the end of the month the machine was taken into active use. 8. The company sold its services at 31'000 PLN. Task: Calculate the initial value of the machine under IFRS. The answer should be round up to full unit (PLN) and should not include currency, comas, dots, apostrophes etc.

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To calculate the initial value of the machine under IFRS we need to consider the following transacti... View the full answer