8.New legislation was promulgated on 1 September 20x1 whereby all public transport buses are required to undergo regular major inspections every 2 years. Vroom Limited owns a bus that has a carrying amount of $80,000 as at 1 January 20X1. This bus is depreciated on the straight-line method to a nil residual value and had a remaining useful life of 10 years on 1 Janua on 1 October 20X1 at a cost of $20,000. ry 20x1. A major inspection of this bus was performed Required: Show the journal entry relating to the major inspection and pr the detailed statement of financial position of Vroom Limited as at 31 Decenher esent the bus in