0 Land: No depreciation is to be provided. Buildings: 2% on cost. Plant and equipment: 10% reducing balance basis. Vehicles: Based on mileage. The total mileage expected from the vehicles is 900,000 kilometres. For the year ended 31 December 2012 the mileage used was 135,000 kilometres. . Long term loan of $1,500,000 was outstanding as at 1 January 2012. Interest on the loan is payable at 10% per annum. An amount of $200,000 representing the principal component of the long term loan is due for repayment on 20 November 2013. . Investment in shares comprises of shares available-for-sale $1,400,000 and shares held for trading $1,000,000. As at 31 December 2012, the market value of shares available-for- sale is $1,900,000 and market value of the shares held for trading is $1,600,000. These market values are considered to be the fair value of the shares. . The cost inventory as at 31 December 2012 is $225,000 and the net realisable value of the inventory is $200,000. . A professional valuation consultant re-valued land on 31 December 2012 at $5,100,000 using fair value. The revaluation reserve as at 1 January 2012 was in respect of a previous revaluation on land. . Building was re-valued for the first time. The new market value of the building as at 31 December 2012 is $2,000,000. . The values of other non-current assets are as follows: As at 31 December 2012 Value In Use Net Selling price Vehicles $250,000 $245,000 Plant and Equipment $2,200,000 $1,800,000 . An examination of the ledger account, shows that other expenses comprises of the following: $ Accounting fee 40,000 Bank service charges 10,000 Fines and penalties 11,000 Entertainment expenses 25,000 Distribution expenses 245,000 Insurance 40,000 Advertising and sales promotion 59,000 430,000