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Q2 PPE & Intangibles 6 Points Q2.1 2 Points Hawks Ltd provides the following details for some of its items of Furniture & Fittings (F&F)

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Q2 PPE \& Intangibles 6 Points Q2.1 2 Points Hawks Ltd provides the following details for some of its items of Furniture \& Fittings (F\&F) after depreciation BUT PRIOR to any impairment or revaluation adjustments for the year ended 30 June 2022: Prepare general journal entries to record any applicable asset revaluations and asset value adjustments for Furniture P as at 30 June 2022. (Ignore any tax effect) (2 marks) Upload your answer to Q.2.1 in PDF below. [. Please select file(s) Q2.2 4 Points Jayce Ltd. acquired a patent at a cost of $200,000. Shortly after the acquisition, Joyce Ltd was offered $600,000 for the patent. Discuss the accounting treatment of the patent in accordance with AASB138 Intangibles. (4 marks)

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