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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:
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