B: Show all calculations.

The following information was obtained from the accounting records of T Super and B Man, Trading as

Superman Traders:

Balances as at $28$ February $2011$: R

Profit for the year $($before depreciation$)............................................................574420$

Asset replacement reserve $(1$ March $2010).......................................................30000$

Capital: T Super...................................................................................................... $775000$

Capital: B Man........................................................................................................ $775000$

Current account: T Super $($Dr $-1$ March $2010)..................................................9750$

Current account: B Man $($Cr $-1$ March $2010)....................................................4340$

Drawings: T Super.................................................................................................. $10000$

Drawings: B Man.................................................................................................... $7630$

Long$-$term loan: US Bank...................................................................................... $660000$

Inventories.............................................................................................................. $835600$

Debtors control $.....................................................................................................288850$

Creditors control.................................................................................................... $159650$

Land and buildings................................................................................................ $1500000$

Equipment at cost$.................................................................................................280000$

Accumulated depreciation: Equipment $(30$ November $2010)80000$

Vehicles at cost$.170000$

Accumulated depreciation: Vehicles$(1$ March $2010)24000$

Bank $($Cr$).15130$

Allowance for credit losses $3600$

Allowance for settlement discount $5250$

Depreciation $($Equipment as at $30$ November $2010)1860$

Prepaid expenses $($Insurance$)2700$

Additional information:

a$.$ Land and buildings consists of:

Land $-$ Erf $529$ Midrand, bought on $1$ March $2008$ for R$900000.$

Building $-$ The building was erected during the year at a total cost of R$600000$ and was only occupied

on $1$ January $2011.$

b$.$ On $30$ November $2010$ equipment with a cost price of R$35000$ was sold at a loss of R$3000.$ At that date,

the accumulated depreciation on the equipment sold amounted to R$12060.$ All the transactions regarding

the sale were recorded correctly.

c$.$ Depreciation must still be provided for as follows:

Buildings: $2\%$ per annum on the straight line method.

Equipment: $10\%$ per annum on the diminished balance method.

Vehicles: $20\%$ per annum according to the straight line method.

d$.$ Inventories consist of:

Merchandise, R$830000$

Stationery, R$5600$

REQUIRED:

Prepare ONLY the note in respect of property, plant and equipment. The total column can be omitted.

NB: Show all calculatis