Kindly assist me

FACULTY OF COMMERCE, MANAGEMENT AND LAW OLD CURRICULUM MODULES QUESTION 3 (10 marks) This question consists of two independent parts, which are not related to one another: Superbus Ltd is a company which specialises in the building of luxurious tour busses on order. At the beginning 2000000 per bus. 20.22 financial year Superbus Ltd signed a contract to deliver two of these busses to Toerbus Lid at Nis contract. On 1 July 20.22 Superbus Ltd obtained a long-term facility of N\$ 5000000 to finance this project. The facility bears market related interest at 12% per annum and is compounded quarterly in arrears. The amount of borrowing costs to be capitalised for the year ended 31 March 20.23 was calculated as NS 52 046. The amount of work in progress for the busses under construction is calculated as N\$ 1312046 , for the year ended 31 March 20.23 Construction of plant On 1 November 20.22 Superbus commenced with the construction of a new plant (qualifying asset), which will take approximately 12 months to complete. Construction expenses were paid in cash on the following dates Cockroach Ltd has a cheque account facility with an overdraft limit of N$500000, at a market related interest rate of 18% per annum. On 1 January 20.23 a loan amounting to N$1000000 was raised to finance the remaining construction expenses. The amount of borrowing costs to be capitalised for the year ended 28 February 20.23 amounted to N\$ 16 672. Interest received on the surplus funds relating to the loan was N\$ 13167 and the total finance costs on the loan amounted to N\$28 333 for the year ended 28 February 20.23 Required (a) Indicate how the applicable items would be disclosed in the notes to the statement of profi 4 or loss and other comprehensive income and in the inventory note for Superbus for the yea ending 31 March 20.23 b) Calculate the amounts at which the following items will be disclosed in the financial 6 statements for the year ended 28 February 20.23 > Plant; > Interest received; > Finance cost