Question: Question Fill in the missing figures in the note to the Statement of Financial position for fixed assets. A portion of the land and buildings
Question
Fill in the missing figures in the note to the Statement of Financial position for fixed assets.
A portion of the land and buildings were sold at book value. The vehicles were purchased on the last day of the accounting period and all the depeciation relates to equipment.
| Fixed Assets | Land & buildings | Vehicles | Equipment | Total |
| Carrying value at beginning of year | 2,595,000.00 | - | 2,200,000.00 | 4,795,000.00 |
| Cost | 2,595,000.00 | - | 2,910,000.00 | 5,505,000.00 |
| Accumulated depreciation | - | - | 710,000.00 | 710,000.00 |
| Movements | ||||
| Additions at cost | - | 2,272,000.00 | 302,000.00 | |
| Depreciation for the year | - | - | (230,000.00) | (230,000.00) |
| Disposals at carrying value | 655,000.00 | - | 655,000.00 | |
| Carrying value at end of year | 1,940,000.00 | 2,272,000.00 | 2,207,778.00 | 6,420,000.00 |
| Cost | 1,940,000.00 | 2,270,000.00 | 3,212,000.00 | 7,422,000.00 |
| Accumulated depreciation | - | - | 480,000.00 | 480,000.00 |
Kindly confirm if my calculations in BOLD is correct
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