The accounting records of Riffon, a limited liability company included the following balances at 30 June 20X2: $'000
Office buildings – cost 1,600
– accumulated depreciation (10 years at 2% per year) 320
Plant and machinery – cost (all purchased in 20X0 or later) 840
– accumulated depreciation
– (straight line basis at 25% per year) 306
During the year ended 30 June 20X3 the following events occurred:
20X2
1 July It was decided to revalue the office building to $2,000,000, with no change to the estimate of its remaining useful life.
1 October New plant costing $200,000 was purchased.
20X3
1 April Plant which had cost $240,000 and with accumulated depreciation at 30 June 20X2 of $180,000 was sold for $70,000.
It is the company's policy to charge a full year's depreciation on plant in the year of acquisition and none in the year of sale.
Required
Prepare the following ledger accounts to record the above balances and events:
(a) Office building: cost/valuation
accumulated depreciation revaluation reserve
(b) Plant and machinery: cost
accumulated depreciation disposal

Alandowner entered into a written agreement with a real estate broker whereby the broker would receive a commission of 10% of the sale price if he procured a "ready, willing, and able buyer" for the landowner's property and if the sale actually proceeded through closing. the broker found a buyer who agreed in writing to buy the property from the landowner for $100,000, the landowner's asking price. the buyer put up $6,000 as a down payment. the agreement between the landowner and the buyer contained a liquidated damages clause providing that, if the buyer defaulted by failing to tender the balance due of $94,000 at the closing date, damages would be 10% of the purchase price. the landowner included that clause because she was counting on using the proceeds of the sale for a business venture that would likely net her at least $10,000. the buyer became seriously ill and defaulted. when he recovered, he demanded that the landowner return his $6,000, and the landowner refused. the broker also demanded the $6,000 from the landowner and was refused. the broker and the buyer filed separate suits against the landowner, with the buyer pleading impossibility of performance. the two cases are consolidated into a single case. how should the court rule as to the disposition of the $6,000?

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Afood worker has just rinsed a dish after cleaning it. what should he do next?