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Bonus task (5.0) A property was purchased by Green company on June 1, 2019 for USD 100,000, which included a land with the value of
Bonus task (5.0) A property was purchased by Green company on June 1, 2019 for USD 100,000, which included a land with the value of USD 50,000 and a building with the value of USD 50,000. The useful life of the building was estimated to be 20 years and residual value was USD 10,000. Straight-line depreciation method is used by the Company. On December 31, 2020 the building was revalued to USD 60,000 with the residual useful life assessed at 20 years and residual value at USD 5,000. On September 30, 2022 the property was sold for USD 100,000. Please provide all necessary journal entries and extracts from the financial statements for the reporting year ended on December 31, 2019 and for the reporting year ended on December 31, 2022
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