Sam's Catering purchased a delivery vehicle of R150 000 on 1 June 2021 on credit. Sam was advised that the residual value of this truck is estimated at R30 000. The diminishing depreciation method was adopted by the company in utilising assets over five years.

On 1 September 2021 the owner replaced equipment. The new equipment amounts to R45 000. The replaced equipment was purchased on 1 January 2018 for R30 000 and sold for R5 000. The company uses the straight-line depreciation method over a period of four years to report on equipment.

Required: Disclose the property, plant and equipment note in the financial statements for the year ended 31 December 2021