mn%202018%20Assign.2%20revised%20to%20submit. pdf both hard and soft copies are submitted. Question 1 (50 marks) Read the case 'April Company' and answer the questions below. April Company April Company ('April') is a well-known diversified corporation with many different businesses in Hong Kong. In order to meet the long term growth and diversification strategy under the direction of the new Chairman; the company has purchased assets and constructed a new building as its new head office in Hong Kong as follows: G) 1 Jan 2017: truck and equipment: These assets were purchased as a lump sum for S150,000 cash. The following information was gathered. Initial cost n Depreciation to date Book value on Appraised seller's books on seller's books seller's books value $200,000 Truck $100,000 $100,000 $130,000 Equipment 150,000 70,000 80,000 70,000 ACT B861F Page 1 1 Feb 2017: A new piece of machinery was acquired by trading in a used piece of machinery. (The exchange was with commercial substance.) Facts concerning the (ii) mn%202018%20Assign.2%20revised%20to%20submit. pdf both hard and soft copies are submitted. Question 1 (50 marks) Read the case 'April Company' and answer the questions below. April Company April Company ('April') is a well-known diversified corporation with many different businesses in Hong Kong. In order to meet the long term growth and diversification strategy under the direction of the new Chairman; the company has purchased assets and constructed a new building as its new head office in Hong Kong as follows: G) 1 Jan 2017: truck and equipment: These assets were purchased as a lump sum for S150,000 cash. The following information was gathered. Initial cost n Depreciation to date Book value on Appraised seller's books on seller's books seller's books value $200,000 Truck $100,000 $100,000 $130,000 Equipment 150,000 70,000 80,000 70,000 ACT B861F Page 1 1 Feb 2017: A new piece of machinery was acquired by trading in a used piece of machinery. (The exchange was with commercial substance.) Facts concerning the (ii)