Consider the information provided below and then complete the journals below that reflects the entry for the recognition of the construction costs of the property, plant and equipment and the expense as the asset is used. For this question assume the cost of constructing the plant is R900 000 (Select the correct value/entry for each block (letter) by selecting them from the dropdown lists provided.) BBA (PTY) Limited constructed the plant at a cost of R900 000 and the plant has a useful life of 20 years. The financial year of the entity ends on 31 December 2021. The construction of the plant was completed on 30 June 2021. It was available for use on the same day and brought into use on 30 September 2021. The residual value of the plant was estimated at R100 000. Complete the journal entries by filling in the correct information from the drop down menu: Debit (R) Credit (R) date: Factory plant Property, plant and equipment Bank (SFP) Expensed as used - date: description of account description of account credited

Consider the information provided below and then complete the journals below that reflects the entry for the recognition of the construction costs of the property, plant and equipment and the expense as the asset is used. For this question assume the cost of constructing the plant is R900 000 (Select the correct value/entry for each block (letter) by selecting them from the dropdown lists provided.) BBA (PTY) Limited constructed the plant at a cost of R900 000 and the plant has a useful life of 20 years. The financial year of the entity ends on 31 December 2021. The construction of the plant was completed on 30 June 2021. It was available for use on the same day and brought into use on 30 September 2021. The residual value of the plant was estimated at R100 000. Complete the journal entries by filling in the correct information from the drop down menu: Debit (R) Credit (R) date: Factory plant Property, plant and equipment Bank (SFP) Expensed as used - date: description of account description of account credited

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 3PA: During the current year, Alanna Co. had the following transactions pertaining to its new office...

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	Debit (R)	Credit (R)
date:
Factory plant
Property, plant and equipment
Bank (SFP)

Expensed as used - date:
description of account
description of account credited