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Sagot :
The preparation of a reconciliation schedule for property, plant, and equipment in a suitable form for the financial reporting period ended 30 September 2021 for Kobia Limited is as follows:
Property, Plant, and Equipment Reconciliation Schedule:
Land & Plant & Motor Furniture
Building Equipment Vehicles & Fittings
Original Costs:
Beginning balance R550 000 R875,400 R647,000 R125,000
Revaluation/Addition 425,000 - 140,000 (15,000)
Write-off (85,000)
Ending balance R975,000 R875,400 R702,000 R110,000
Accumulated Depreciation:
Beginning balance - R338,200 R211,000 R 32,000
Adjustments:
Depreciation Expense - R87,540 R140,400 R 13,750
Write-off (34,000)
Ending balance R425,740 R317,400 R45,750
Data and Calculations:
a) Land and Building:
Revaluation Surplus = R425,000 (R975,000 - R550,000)
b) Useful life of the new item of equipment = 20 years
c) Additional Motor Vehicle = R140,000
d) Motor Vehicle
Trade-in value at cost = R85,000
Trade-in value Accumulated Depreciation = R34,000 (R85,000 x 20% x 2 years)
Book value of Motor Vehicle = R51,000
Exchange value = 44,000
Loss from trade-in = R7,000
Depreciation Rates and Expense:
Land & Plant & Motor Furniture
Building Equipment Vehicles & Fittings
Depreciation Rate 0 10% 20% 12.5%
Depreciation Expense R0 R87,540 R140,400 R 13,750
Learn more about Accumulated Depreciation at https://brainly.com/question/25141635
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