A. The details of property, plant and equipment for Harmoni Bhd is as follows: Assets Acquisition date Cost (RM) Useful life Residual (RM) Land 20 February 2017 2,200,000 Indefinite nil Building 1 January 2018 1,800,000 50 years 100,000 Machine 1 January 2017 900,000 20 years 50,000 Equipment 1 January 2018 850,000 16 years 30,000 Motor vehicle 1 June 2018 230,000 10 years 20,000 Harmoni Bhd uses the straight-line depreciation method for all depreciable assets. The company adopts the revaluation model for land and buildings use in the business, the cost model for equipment and motor vehicle and fair value model for investment property. The policy of Harmoni Bhd is to revalue its land and building annually. The following information may have affected the property, plant and equipment during 2019: 1 January 30 April 31 July The estimated residual value of machine is revised to RM70,000 and the useful life is revised to a total of 18 years. A new truck was acquired for RM150,000. Its expected useful life is 8 years with a residual value of RM15,000. The company also paid RM1,000 for painting and lettering upon acquisition of the truck. Motor vehicle was traded in with a new motor vehicle. The market value of the new motor vehicle was RM300,000 and has a residual value of RM30,000 with 12 years of useful life. The cash paid during the transaction was RM80,000. 31 December The straight line basis is considered not appropriate for equipment because the rate of usage and the decline in value is much faster in the earlier part of its useful life. The declining balance method, at a rate of 20% per annum for the remaining useful life, is considered the more appropriate method. 31 December 31 December The fair value of land is RM2,650,000. It was revalued at RM2,300,000 and RM2,150,000 on 31 December 2017 and 31 December 2018 respectively. The company decided to rent out the building after use in the business for two years. The market value of the building at the end of 2018 and 2019 was RM2,000,000 and RM2,500,000 respectively.