Question 2 The following were the Non-current assets for 2015 Non-Current Asset NS Land and Buildings: Cost 150,000 Vehicles: Cost 60,000 Vehicles: Accumulated Depreciation 31,000 Furniture: Cost Machinery: Cost Machinery: Accumulated Depreciation Furniture: Accumulated Depreciation 33,000 10,000 22,000 8.000 1. The assets were charged depreciation as follows: Land and Buildings No depreciation [25 Marks] Vehicles Machinery Furniture : 20% per annum on straight line method :20% Reducing Balance Method 10% Straight line method 2. Erf No. 7 Fidel Castro with buildings was bought in 2010 3. On 30 June 2015, a delivery vehicle with an original cost of NS18000 was sold for N$7500. On 31 December 2014, the accumulated depreciation on the vehicle was NS11000. 4. On 31 January 2015, a new machine with a cost price of NS30000 was purchased 5. No purchases or sales of non-current assets were made in the previous year. Required Prepare the Property Plant and Equipment according to IAS16