Diamond is a trading company making up its accounts regularly

to $31$ December each year. At $1$ January $2015$ the following

balances existed in the records of Diamond:

$$000$

Land $-$ cost

$1,000$

Buildings $-$ cost

$500$

Aggregate depreciation charged on buildings to $31$

December $2014,210$

Office equipment $-$ cost $40$

Aggregate depreciation charged on office equipment to $31$

December $201424$

The company's depreciation policies are as follows:

Land $-$ no depreciation

Buildings $-$ depreciation charged at $2\%$ per annum on cost

on the straight line basis.

Office equipment $-$ depreciation charged at $12\frac{1}{2}\%$ per

annum on the straight line basis.

A full year's depreciation is charged in the year of acquisition of

all assets and none in the year of disposal.

During the two years to $31$ December $2016$ the following

transactions took place:

$(1)$ Year ended $31$ December $2015$:

$($i$)10$ June Office equipment purchased for $$16,000.$ This

equipment was to replace some old items which

were given in part exchange. Their agreed part

exchange value was $$4,000.$ They had originally

cost $$8,000$ and their carrying amount was $$1,000.$

The company paid the balance of $$12,000$ in cash.

$($ii$)8$ October An extension was made to the building

at a cost of $$50,000.$

$(2)$ Year ended $31$ December $2016$:

$1$ March Office equipment which had cost $$8,000$

and with a written$-$down value of $$2,000$

was sold for $$3,000.$

In preparing financial statements at $31$ December $2016$ it was

decided to revalue the land upwards by $$200,000$ to reflect a

recent survey.

Required:

Write up the necessary ledger accounts to record these

transactions for the TWO years ended $31$ December $2016.$

$($Separate cost $($or valuation$)$ and aggregate depreciation

accounts are required; do not combine cost and

depreciation in a single account.$)$