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XYZ Ltd purchased an office building for R 6 7 5 0 0 0 on 1 March 2 0 2 0 ( useful life of

XYZ Ltd purchased an office building for R

675 000

1

March

2020 (

useful life of

5

years

)

Fair value on

30

June

2020

was R

750 000

Fair value on

31

December

2020

was R

700 000

XYZ uses the cost model to measure PPE and the fair value model to measure investment property Prepare journal entries for the year ended

30

June

2020

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