Please help

1.2 One of the most important characteristics that a set of financial statements should have is reliability terms of the framework, how to ensure that a set of financial statements is reliable (5) Explain, in QUESTION TWO On 01 January 2016, Polluter Limited opened a new plant in Pietermaritzburg The following costs were incurred during January 2016 in respect of the new plant (all excluding VAT) 125) Invoiced price of the plant Direct costs of testing the plant to ensure full operation as intended Proceeds from sale of samples Costs incurred in selling samples Plant opening function 6 000 000 500 000 600 000 100 000 1 000 0000 The plant was in use from 01 January 2016. The plant incurred an operating loss of R200 000 for the month ended 31 March 2016 due to low order levels. The plant is depreciated using the straight line nethod at 10%. 17 REGENT BUSINESS SCHOOL (RBS)-January 2019 i YEAR 2 CALENDAR-DIST The company uses the revalustion model and revalues its plant on an value adjustments. The following revaluations were performed annual bonis Fair value 01/01/2017 Fair value 01/01/2018 R5 490 000 Rs 000 000 Required: 2.1 Calculate the cost of the plant as at 01 January 2016. 22 Prepare the journal entries in the general journal for the end of years 2.2.1 2016 2.2.2 2017 2.2.3 2018 Show all workings