(a) Sakubva Ltd acquired machinery on 1 January 2017 for $1100000, and in so doing qualified for a cash subsidy of $400000. Sakubva Ltd accepted an accounting policy to depreciate machinery over five years in fixed instalments and to account for government grants as deferred income. The residual value of machinery was estimated at \$nil at 31 December 2017. Ignore taxation. REQUIRED I. Show the journal entries for the year ended 31 December 2017. (3 marks) II. Disclose the information in the following notes to the financial statement of Sakubva Ltd for the year ended 31 December 2017 to comply with the relevant accounting standards. 1. Accounting policy (3 marks) 2. Deferred income (3 marks) 3. Property, plant and equipment (3 marks) 4. Profit before taxation. (3 marks) (b) Illustrate accounting treatment of investment property. (10 marks) (a) Sakubva Ltd acquired machinery on 1 January 2017 for $1100000, and in so doing qualified for a cash subsidy of $400000. Sakubva Ltd accepted an accounting policy to depreciate machinery over five years in fixed instalments and to account for government grants as deferred income. The residual value of machinery was estimated at \$nil at 31 December 2017. Ignore taxation. REQUIRED I. Show the journal entries for the year ended 31 December 2017. (3 marks) II. Disclose the information in the following notes to the financial statement of Sakubva Ltd for the year ended 31 December 2017 to comply with the relevant accounting standards. 1. Accounting policy (3 marks) 2. Deferred income (3 marks) 3. Property, plant and equipment (3 marks) 4. Profit before taxation. (3 marks) (b) Illustrate accounting treatment of investment property. (10 marks)