Takoya Bhd is a public listed company and established in 2000. The company was incorporated in Malaysia, involved in dairy farming, manufacturing and distributing of dairy products.

The following balances are for the year ended 30 June 2019.

	Note	Dr	Cr
		RM000	RM000
Sales			25,000
Cost of sales		11,800
Administration expenses		6,020
Selling and distribution expenses		1,200
Finance costs		265
Land (at revaluation)	2	11,000
Buildings (at revaluation)	2	32,000
Equipment	1	5,200
Machine A	1	4,050
Machine B		18,100
Motor vehicles		2,640
Fixtures and fittings		628
Goodwill	1	750
Accumulated depreciation as at 1 July 2018:
Buildings	2		3,840
Equipment	1		988
Machine A	1		770
Machine B			1,905
Motor vehicles			792
Fixtures and fittings			251
Biological assets	3	940
Investment properties		4,000
Investments		2,100
Intangible assets	5	794
Tax paid		277
Accounts receivable		2,320
Inventories		510
Bank balances		447
Ordinary shares			45,000
5% cumulative preference shares			10,000
Retained profits			9,280
Revaluation reserve (land)	2		450
8% debentures			5,000
Deferred income	4		300
Accounts payable			1,760
Accruals			230
Interim dividend	6	525
		105,566	105,566

QUESTION

You are required to prepare the journal entry of the transactions incurred and notes to disclose the movement in the companys property, plant and equipment (if applicable).

Notes 2

The building was revalued for the first time on 1 July 2015 where the revaluation result in a deficit of RM150,000. The remaining useful life of the building for on 1 July 2015 was 25 years. The building was revalued on 1 July 2018 at RM32,500,000.

The land was also revalued for the first time on 1 July 2015 at a surplus. The fair value of the land drop to RM10,000,000 on 30 June 2018, but was never recorded by the company.

The land is not depreciated. The motor vehicles, and fixtures and fittings are depreciated on straight line basis at 10% per annum.

Notes 4

A government grant was received 10 years ago after the company complied with condition on setting up the dairy cattle farm. The balance of the deferred income has yet to be amortised for another 5 years.

Other Notes

The tax expense for the year was RM542,000.