Question 4 (30 Marks) Ms Geingos, the Management Accountant of Zama Medical Ltd appointed a person on 01 June 2018, who pretended to be an expert in the preparation of company financial statements. The following statement of financial position was prepared on 10 June 2018 by the new accountant: Statement of Financial position ASSETS Land and building at carrying amount Furniture at carrying amount Vehicles at carrying amount Investments Inventories Receivables TOTAL INTERESTS Capital Reserves Loan Payables Bank Overdraft TOTAL 376 000 60 000 192 000 34 000 19 000 20 000 701 000 555 000 20 000 100 000 14 000 12 000 701 000 Ms Geingos is not satisfied with the format of the above statement of financial position and request you to assist her. You acquire the following additional information: 1. The reporting periof of Zama Medical Ltd ends on 30 June. 2. The buildings are occupied for the purposes of the activities of the entity and are accounted for in terms of the cost model. At the date of acquisition, 01 July 2016, the land was valued at N$100 000 and buildings at N$300 000. Depreciation is written off on buildings at 4% per annum on the straight line method.