Question: Fantastic Itd had its head office located in De rust South Africa. During a landslide, a building which it owned and was renting to Sadly
Fantastic Itd had its head office located in De rust South Africa. During a
landslide, a building which it owned and was renting to Sadly Limited was
destroyed. Fantastic Itd then decide to move its head office to another under
utilized building nearby, which was currently being used for administration
purposes and to lease its original head office building to Sadly Limited as a
replacement.
Additional information.
The head office was purchased on January for R with a useful
life of years. The fair value of the head office building was R on
June and R on December Fantastic limited uses the cost
model to measure the Property Plant and equipment and the revaluation model
to measure the investment properties.
Required:
Do all the related journals for Fantastic Limited for the year ended December
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