FAC3702
Assignment 1 Semester 2 2024
Unique Number:
Due Date: 3 September 2024
a. PROPERTY, PLANT, AND EQUIPMENT NOTE FOR KASSILAM LIMITED
Land (R) Plant (R) Machinery (R) Block of Flats
(R)
Carrying Amount at 1 January 2023 2,499,000 77,700,000 - 3,890,000
Cost 2,290,000 88,000,000 - 3,750,000
Accumulated Depreciation - (10,300,000) - (140,000)
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a. PROPERTY, PLANT, AND EQUIPMENT NOTE FOR KASSILAM LIMITED
Land (R) Plant (R) Machinery (R) Block of Flats
(R)
Carrying Amount at 1 January 2023 2,499,000 77,700,000 - 3,890,000
Cost 2,290,000 88,000,000 - 3,750,000
Accumulated Depreciation - (10,300,000) - (140,000)
o Revaluation Deficit for 2023: R1,140,000 - R1,199,000 = (R59,000)
• Eastern Cape Land:
o Cost: R1,240,000
o Valuation at 31 Dec 2022: R1,300,000
o Valuation at 31 Dec 2023: R1,250,000
o Revaluation Deficit for 2023: R1,250,000 - R1,300,000 = (R50,000)
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