Question 1

(4 marks)

Robert Ltd reported the following assets in its statement of financial position at 30 June

2021.

Plant $ 800 000 Accumulated depreciation (240 000) Land 300 000 Patent 240 000 Office equipment 620 000 Accumulated depreciation (340 000) Inventories 220 000 Cash and cash equivalents 180 000 $1 780 000