Financial Accounting Reporting 2 Plant, Property and Equipment Fisheries Bhd is a small listed company involves in fishing and selling fish to the public via retail outlets The company owns a building that was acquired in early September 2014 for RM1,200,000, with an estimated useful life of 20 years It also possesses two boats, with details as below Mirabella Boat that was purchased for RM600,000 on 8 February 2015 and Fleur Boat, a qualifying asset under MFRS 123 Borrowing Costs , constructed by Fisheries Bhd from 1 March 2016 to 30 November 2016 The company had the following outstanding loans as at 31 December 2016 Bank Loan amount Interest Date loan raised Status of loan (RM) rate ( ) General loan TZ Bank 400,000 12 1 January 2015 Date loan settled 25 July 2016 ZE Bank 450 000 15 1 October 2015 Ongoing Construction loan TZ Bank 500 000 12 1 April 2016 Ongoing Construction costs of the boat include Detail Amount (RM) Payment date Purchase of materials 570,000 1 March 2016 Cost of labour 240 000 5 June 2016 Other expenditures 270,000 20 July 2016

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Financial Accounting & Reporting 2: Plant, Property and Equipment Fisheries Bhd is a small listed company involves in fishing and selling fish to the public

Financial Accounting & Reporting 2: Plant, Property and Equipment

Fisheries Bhd is a small listed company involves in fishing and selling fish to the public via retail outlets. The company owns a building that was acquired in early September 2014 for RM1,200,000, with an estimated useful life of 20 years. It also possesses two boats, with details as below:

Mirabella Boat that was purchased for RM600,000 on 8 February 2015; and
Fleur Boat, a qualifying asset under MFRS 123 Borrowing Costs, constructed by Fisheries Bhd from 1 March 2016 to 30 November 2016.

The company had the following outstanding loans as at 31 December 2016:

Bank Loan amount Interest Date loan raised Status of loan (RM) rate (%) General loan: TZ Bank 400,000 12 1 January 2015 Date loan settled: 25 July 2016 ZE Bank 450.000 15 1 October 2015 Ongoing Construction loan: TZ Bank 500.000 12 1 April 2016 Ongoing Construction costs of the boat include: Detail Amount (RM) Payment date Purchase of materials 570,000 1 March 2016 Cost of labour 240.000 5 June 2016 Other expenditures 270,000 20 July 2016