0.17KB/s Q. 'Only 68% 11:17 PM attachment(1).pdf 2 X At | October 1999 the property. plant and equipment balances of Jojo Lid were as follows: Original Cost Accumulated depreciation NIV Freehold land and buildings 1,550,000 Plant and equipment 2,875,400 1,550.010 Vehicle's 1,647.DDD 3315,202 Furniture and fittings 1,125,DDD 21 1,002 2.537, 200 1.436,000 32,000 1,093.D80 The straight-line rates of depreciation based on cost, used to that date were 10% per annum for plant and equipment: 20% per annum for vehicles, and 12% per annum for furniture and fittings, It is the company's policy to make a full year's charge on property. plant and equipment acquired in the year of purchase and no depreciation in the year of disposal. The following additional information is relevant to the calculation of depreciation for the year to 30 September 1992: (1) Freehold land and buildings were professionally re-valued during the year at sh 975,000. (i] An item of equipment bought In November 1997 for sh 105,000 is now recognised to have a useful life of at least 20 years. vill. A vehicle bought in June 1999 for sh 65,000 was traded in at a value of sh 44,000 in part exchange for a new vehicle costing 140,000. (iil) Included with the furniture and fittings is an item which originally cost sh 15,000 and which is already fully depreciated and not expected to have any material use or resale value. Required: Prepare a schedule of property, plant and equipment movements and balances suitable for inclusion in the company's published accounts for the year to 30 September 2002. Show clearly the amount to be charged against the year's profits and loss account and the balances to be shown in the balance sheet. (CPA slipped) Mobile View Tools 0 O