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Byron Ltd acquired a block of land, on 30 June 2021, cost $500000. Valuations of the land are undertaken by an independent valuer on 30

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Byron Ltd acquired a block of land, on 30 June 2021, cost $500000. Valuations of the land are undertaken by an independent valuer on 30 June 2022 and 30 June 2023. The land is revalued to $440000 on 30 June 2022 and revalued to $560000 on 30 June 2023. Required Provide the journal entries for the asset revaluations undertaken in 2022 and 2023. Show workings and calculations

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