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Workshop Ltd had its head office located in Durban, South Africa. During the landslide on 3 0 June 2 0 2 2 , a building
Workshop Ltd had its head office located in Durban, South Africa. During the landslide on June a building nearby, which it owned and was renting to Ushaka Limited, was destroyed.
As Ushaka Ltd was a valued tenant, Workshop Ltd decided to move its own head office to another utilization building nearby, which was currently also used for administrative purposes and to lease this original head office building to Ushaka Limited as a replacement.
The move was effective from June
Other information:
The head office was purchased on the January for Rtotal useful life : years
The fair value of the head office building was:
R on June and
R on December
Workshop Limited uses the:
Cost model to measure its property, plant and equipment and
Fair value model to measure its investment properties.
Required:
Show journal entries relating to Workshop head office for the year ended December
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