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financial accounting QUESTION 1 Fare Cape (Pty) Ltd is a company that produces dairy products. The company uses Additional infomation: industrial machinery required to pasteurize
financial accounting
QUESTION 1 Fare Cape (Pty) Ltd is a company that produces dairy products. The company uses Additional infomation: industrial machinery required to pasteurize and procoss mak. Usually when the - Ali assets are measurod on the cost model, comcamy potchase new machinery, ther wil sell older machinery to local farmers. - Depreciaton on machinery is calculatiod on a strabhtitine bass at 10\% pa. The following are extracts from the Genceal Ledger of Fare Cape (Pty) Lld for the yoar ended 30 June 2022 - The machinery purchased on 1 May 2022 (see GL) was brought inte use on 1 ended 30 June 2022 June 20222 as that is when it was delvered by the sugpher, who aso incurred the costs of detivery. The delay was dae to tre tupstied being temporaniy out of siock The rest of the machinery wese al used from the day it was purciased. - The fair vabe of all machinery logether was estmated to be 225000 on 30 June 2002 REQUBED: Prepare the Property, plant and equipment note to the trancial stakements as at 30 dune 2022. The notes on the accounting polcy are not regured. The iotal column is alse not roqured, Show at workings. (20) Marks) Step by Step Solution
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