QUESTION $3$

$($B Marks$)$

Deez Lif purchased an investment properfy on $13.$ June $2019.$ On $19$ December $2023,$ the directors of Deaz Lif decided to use the investment property as the head office for coerations and relocate the Weran's to anoter bulding Elloctwe $1$ Apri $2024$ Deet Lid noved inte the prenises previously rented out on which dry the bulting had a falr value of R$2500000$ and is resuling uselfitte of lien years. On $31$ December $2023,$ the fair value of the bulding was R$2750000.$ Per the approved accounting policy. the cost model is used to report on all property, plant and equipnert ahle fre investment properfes are measured on the fair value model.

Required:

Record the transactions in the accounting system of Deez Las for fee financial year ended $31$ December $2024.$

QUESTION $4$

$(12$ Marks$)$

On $1$ January $2023,$ the government awarded Kim Taden Lut a grart of Roso $000$ to assist with the acquisition of a factory. The factory was purchased on $1$ Mach $2023$ for ROOO $000$ and was immediately avaiable for use. It has an estimated useldi life of $10$ years and ne residual astue. The grart was awarded doe to compliance with syecilic conditions fiftiled in fee prior year. As of the ante of receipe, all conditions had been mele, except for the purchase of the factory.

Required:

Record the transactions in the accourting records of Kim Thaters Les lor the financial pars ended $31$ December $2003$ and $31$ December $2024.$ Kim Traders recogrises govertment grasts as a reduction of the cost of the assets.