Sea shores is a property investment company that focuses on buying landing and buildings for purposes for rental and resale purposes. The company currently own the follo land and buildings. land Braamfontein Rented to the 30 June local 2019 Umhlanga building Richards bay building Use Pretoria Building Purchase Depreciation cost Model date policy apartments are rented to tenants municipality Consists of 5001 May 20% on cost 20 000 Cost apartments 2020 000 30 Will be sold 30 April 2020 on appreciation of the value Richards Bay Occupied by 1 January land sea shores 2020 Rented to tenants Fair value on 31 Dec 2020 10 000 Fair value 14 000 000 000 8 400 cost 000 12 000 Cost 000 25 000 000 8 400 000 10 000 000 1 February 20% on cost 8 000 Fair value 10 545 800 2019 000 Required Prepare all the necessary journal entry for the year ended 31 December 2020.

Sea shores is a property investment company that focuses on buying landing and buildings for purposes for rental and resale purposes. The company currently own the follo land and buildings. land Braamfontein Rented to the 30 June local 2019 Umhlanga building Richards bay building Use Pretoria Building Purchase Depreciation cost Model date policy apartments are rented to tenants municipality Consists of 5001 May 20% on cost 20 000 Cost apartments 2020 000 30 Will be sold 30 April 2020 on appreciation of the value Richards Bay Occupied by 1 January land sea shores 2020 Rented to tenants Fair value on 31 Dec 2020 10 000 Fair value 14 000 000 000 8 400 cost 000 12 000 Cost 000 25 000 000 8 400 000 10 000 000 1 February 20% on cost 8 000 Fair value 10 545 800 2019 000 Required Prepare all the necessary journal entry for the year ended 31 December 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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