Question: Required: Making use of the information below complete the note to the financial statements for property, plant and equipment. Balances: Land and Buildings (29 February

Required: Making use of the information below complete the note to

Required: Making use of the information below complete the note to the financial statements for property, plant and equipment. Balances: Land and Buildings (29 February 2020) R2 500 000 Office Equipment (1 March 2019) R700 000 Accumulated depreciation Vehicles (1 March 2019) R140 000 Additional information: A new office building was bought on 1 June 2019 for R1 500 000. This transaction has been recorded. . Office Equipment with an original cost of R120 000, and accumulated depreciation of R24 000 (at 1 March 2019), was sold on 1 December 2019 for cash of R85 000. Office Equipment are depreciated at 25% per year on the straight-line basis. Required: Making use of the information below complete the note to the financial statements for property, plant and equipment. Balances: Land and Buildings (29 February 2020) R2 500 000 Office Equipment (1 March 2019) R700 000 Accumulated depreciation Vehicles (1 March 2019) R140 000 Additional information: A new office building was bought on 1 June 2019 for R1 500 000. This transaction has been recorded. . Office Equipment with an original cost of R120 000, and accumulated depreciation of R24 000 (at 1 March 2019), was sold on 1 December 2019 for cash of R85 000. Office Equipment are depreciated at 25% per year on the straight-line basis

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