QUESTION 1 WNO Food Bhd purchased 2 industrial buildings in Pending area on 1 January 2015. Building A is used as a place to process food which is a product of the company while Building B is vacant and rented out to X1 Techno Sdn Bhd. Each building costs RM500,000, paid in two instalments. First instalment of RM300,000 was paid on the acquisition date and the second instalment was paid a year later where the present value was RM185,200. The company paid cash for the total legal fees for both buildings amounting RM25,000. The estimated useful life of the buildings were 25 years. Each building was revalued on 1 January 2020; the fair value of building A was RM505,000 and building B was RM510,000. WNO Food Bhd adopted revaluation model for property, plant and equipment and fair value model for its investment property. Required: a. Journalized the transaction related to Building A for the year ended 2020. (show all relevant workings and MFRS) (5 marks) b. Explain briefly the accounting treatment of changes in fair value for Building B on 1 January 2020 (state the relevant MFRS). (3 marks) c. Prepare the extract Statement of Financial Position as at 31 December 2020 for WNO Bhd. (2 marks) (Total: 10 marks)