QUESTION 1 [20] Juicy Wiggle Limited, a company involved in the manufacture of energy juices, purchased new manufacturing machine on the 1 March 2017 for an amount of R275 000. The machine had a useful life of 5 years on this date and a RO residual value. The machine had a carrying value of R165 000 on the 28th February 2019. On the 1 March 2019, the residual value of the equipment was now estimated to be R20 000. Required: 1. Prepare the journal entries in respect of depreciation for the year ended 29th February 2020 using the Re-allocation Method assuming no journals had been passed yet. (10) 2. Prepare the Profit before tax note AND the note in terms of IAS 8, the statement on Accounting policies, estimate and errors for the year ended 29th February 2020 (10) All workings must be shown. Include comparatives where applicable. Ignore tax implications