NON CURRENT ASSETS DISCLOSURE On the 31 December 20 3 the following Balances, amongst others, appeared in the accounting records of Bruno Traders Land and Buildings $500 000 Accumulated depreciation buildings (31 December 20 3) $4000 Furniture at cost $100 000 Accumulated Depreciation Furniture (31 December 20 3) $40 000 Vehicles at cost $250 000 Accumulated depreciation Vehicles (31 December 20 3) $80 000 Brand names 31 12 20 3 $200 000 Accumulated amortization 13 12 20 3 $16 000 Accumulated depreciation Brand Names (31 December 20 3) $40 000 Financial Assets as at 31 12 20 3 $60 000 Goodwill 31 12 20 3 $800 000 Accumulated amortization $64 000 Additional information Depreciation is written off on buildings at 2 per year on cost, on furniture at 10 per year on cost, and on vehicles at 20 year on the carrying amount Land and buildings were purchased on 1 January 20 2 for $ 500 000 and the buildings are situated on erf 2020, Ferndale The value of the buildings on date of purchase was $200 000 On 31 March 20 4 furniture costing $22 800 and with accumulated depreciation of $12 000 as at 31 December 20 3, was sold for N$ 6 840 On 30 September 20 4 a new vehicle was purchased for $ 45 600 Financial assets were re measured at $ 70 000 during the year Goodwill has a lifespan of 25 years Intangible assets are initially recognised at cost price and are stated cost less accumulated amortisation All intangible assets have a lifespan of 25 years Required Prepare the extracted statement of financial position as at 31 December 20 4 for non current assets as at 31 December 20 4 and also disclose the notes for non current assets to comply with the requirements of IAS 1 and IFRS and the Companies Act 73 of 2008

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NON-CURRENT ASSETS DISCLOSURE On the 31 December 20.3 the following Balances, amongst others, appeared in the accounting records of Bruno Traders. Land and Buildings $500

NON-CURRENT ASSETS DISCLOSURE

On the 31 December 20.3 the following Balances, amongst others, appeared in the accounting records of Bruno Traders.

Land and Buildings $500 000

Accumulated depreciation: buildings (31 December 20.3) $4000

Furniture at cost $100 000

Accumulated Depreciation: Furniture (31 December 20.3) $40 000

Vehicles at cost $250 000

Accumulated depreciation: Vehicles (31 December 20.3) $80 000

Brand names 31/12/20.3 $200 000

Accumulated amortization 13/12/20.3 $16 000

Accumulated depreciation: Brand Names (31 December 20.3) $40 000

Financial Assets as at 31/12/20.3 $60 000

Goodwill 31/12/20.3 $800 000

Accumulated amortization $64 000

Additional information:

Depreciation is written off on buildings at 2% per year on cost, on furniture at 10% per year on cost, and on vehicles at 20% year on the carrying amount.
Land and buildings were purchased on 1 January 20.2 for $ 500 000 and the buildings are situated on erf 2020, Ferndale. The value of the buildings on date of purchase was $200 000.
On 31 March 20.4 furniture costing $22 800 and with accumulated depreciation of $12 000 as at 31 December 20.3, was sold for N$ 6 840
On 30 September 20.4 a new vehicle was purchased for $ 45 600.
Financial assets were re-measured at $ 70 000 during the year.
Goodwill has a lifespan of 25 years
Intangible assets are initially recognised at cost price and are stated cost less accumulated amortisation. All

intangible assets have a lifespan of 25 years.

Required:

Prepare the extracted statement of financial position as at 31 December 20.4 for non-current assets as at 31 December 20.4 and also disclose the notes for non-current assets to comply with the requirements of IAS 1 and IFRS and the Companies Act 73 of 2008.