Exercise 1 On 1 March 2022 Yucca Company acquired a machine from Xeroxi Company under the following terms and conditions: List price of machine $82 000 Delivery fees $2 050 Installation costs $9 500 Pre-production testing $4 900 Purchase of a year maintenance contract with Xeroxi Company $7 000 Yucca Company paid for the machine on 25 March 2022. The machine was completed on 1 October 2022 and brought into use on the 15 October 2022. I Required Calculate the amount to be included as PPE and describe the impact that the above information would have on the Statement of profit or loss for the year ended 31 March 2022.

On 1 March 2022 Vucca Company acquired a machine from Xerox Company under the following terms and conditions: Ist price of machine $32000 Delivery fees $2050 Installation costs $9500 Preproduction testing $4900 Purchase of a year maintenance contract with Xeroxi Company $7000 Yucca Company paid for the machine on 25 March 2022 . The machine was completed on 1 October 2022 and brought into use on the 15 October 2022. Required Calculate the amount to be included as PPE and describe the impact that the above Information would have on the Statement of profit or loss for the year ended 31 March 2022