-1 Green Ltd acquired an item of plant on 1 July 2016 for $500 000, at which time the plant was expected to have a useful life of six years, with no residual value. Green Ltd has chosen to adopt the revaluation model for plant. Fair values have been estimated as follows: 30 June 2017 = $400 000 30 June 2018 = $360 000 Required: Ignoring tax, prepare journals entries for: (a) year ending 30 June 2017 (b) year ending 30 June 2018 Tage 2 OIS -8 Winter Ltd acquired an item of plant on 1 July 2011, for $400 000. The plant is estimated to have a 10 year useful life, with no residual value. On 30 June 2015, the plant was revalued to $420 000. The life and residual values remain unchanged. Required: Assuming a tax rate of 30%: (a) prepare journals entries for the revaluation on 30 June 2015 (b) prepare journals entries for the year ending 30 June 2016 (c) prepare journals entries for the year ending 30 June 2017 (d) as at 30 June 2017, determine the balance of the revaluation surplus account and the balance of any deferred tax asset or liability (e) as at 30 June 2019. determine the balance of the revaluation surplus account and the balance of any deferred tax asset or liability (workings may be shown separately if desired)