TUTORIAL 14 PPE Note question The register for property, plant \& equipment of Dijkman (Pty) Ltd is presented to you. As the accountant you are required to prepare all the entries and calculations, and satisfy all disclosure requirements regarding property, plant \& equipment in the financial statements of the company for the financial year ended 30 June 2022. A summary of the register of property, plant and equipment at 1 July 2021 is as follows: Additional information: 1. The following rates and methods of depreciation are applicable: - Property, plant and equipment are accounted for on the cost model. - Land-no depreciation - Furniture 10% straight line - Motor vehicles - 20% straight line - Machinery 20% reducing balance method - The assets have no residual values. 2. On 1 July 2021 a delivery vehicle with an original cost of N$18000 was sold for N$7500 and this amount was credited to the motor vehicle account. On 1 July 2021 the accumulated depreciation of the vehicle amounted to N$11000. 3. Machine B was obtained and put into operation on 30 June 2021. 4. Land consists of stand no.65 in the northern industrial area and was purchased in 20.0. The board of directors estimated the current market value of the property to be N$200000 at 30 June 2022 . The land is not classified as an investment property. 5. The current market value of the other assets does not differ materially from their carrying amounts. 6. No other transactions relating to property, plant \& equipment took place during the year. YOU ARE REQUIRED TO: Prepare the Property, Plant Equipment reconciliation note of Dijkman (Pty) Ltd for the year ended 30 June 2022 so as to comply with IAS 16