With reference to IAS 16 Property, Plant and Equipment, determine whether the following costs should be capitalised as machine cost: (i) Cost of installing the machine in factory (ii) Cost of training staff to operate the machine (4 marks) On 31 December 2021, a property developer has not received the December 2021 rent of 5,000 from a tenant. (a) Prepare journal entry to recognise the overdue rent revenue on 31 December 2021 in the property developer's book. Omit the narrative. (2 marks) (b) Explain the effect (understated or overstated) of not recognising the overdue rent revenue on the asset, liability and capital of the property developer. (2 marks) MCM Shop uses the lower of cost and net realisable value (NRV) basis for its inventory. The following data are available at year end. Item Units ! Y z 2,000 4,000 3,000 Unit Cost 18 10 23 NRV 16 11 20 Required: Calculate the total amount of write down to NRV