Question 2 ( 2 0 Marks ) Trudy Ltd had its head office located in Durban, South
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Trudy Ltd had its head office located in Durban, South Africa. During the landslide on June a building nearby,
which it owned and was renting to Ushaka Limited, was destroyed. As Ushaka Ltd was a valued tenant, Trudy Ltd
decided to move its own head office to another utilisation building nearby, which was currently also used for
administrative purposes and to lease this original head office building to Ushaka Limited as a replacement. The move
was effective from June
Other information.
The head office was purchased on credit on the January for Rtotal useful life : years
The fair value of the head office building was:
R on June and
R on December
Trudy Limited uses the:
Cost model to measure its property, plant and equipment and
Fair value model to measure its investment properties.
Required: Show journals relating to Workshop head office for the year ended December
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
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