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Prepare a Statement of Financial Position extract showing non-current and current assets, including the PPE note detailing land and buildings.
Accounting
ScanSolve AI Answer
Statement of Financial Position (Extract) as at 31 December 20.11
Assets
Non-current assets
Property, plant and equipment (Note 1)
Investments
Loan to Shaik (Pty) Ltd
Current assets
Inventories
Trade and other receivables
Prepaid lease expenses
Calculations:
1. Property, Plant and Equipment (PPE)
- Land:
- Revalued amount at 31 December 20.11: R800 000.
- Buildings:
- Cost of new building completed 31 December 20.
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