3(a)(i) Briefly describe the organsisation you are working for one in which you are familiar with. What is likely to be the most imnporatnt class of property,pllant or equipment of this oraganisation? Illustrate and explain briefly th three compontents that comprises the cost of an item or property ,plant or equipment of this organisation? Illlustarte and explain briefly the three componets that comprise the cost of an item or property ,plant and equipment.For each component,list individual cost items that would be included for the assest mentionend above. 3(ii)Madon Capital Pte Ltd. acquired a new office lease for 3 years and spent $100,000 on renovation for a new lease premise,At the end of the 3 -year lease,Madon will have to reinstate the premises.The estimated cost of restoration is $50,000.Based on the company’s discount t=rate ,tthe present value for the restration cost is $37,566. Determine the cost of the office and ilustrate the journal entries to record the costs. 3(b)An enity may adopt as its accounting policy for the treatment of its property,plant and equipment either a cost model or revalustion model. (i) Differentiate the two approaches to treat revaluation of a property,plant and equioment.If the assests carrying amount is increased as a result of revaluation,state where this increase should be creditied. (ii)Assuming that the cost of vechicle is $120,000 with an accumulated depreciation of $40,000.The revalued amiunt for similar class of vehicles is now $100,000.Illustrate the revaluation efffect for the vechicle under the restatement approach. Additional Requirements Min Pages: 4 Level of Detail: Show all work