On 1 July 2009, Wollongong Ltd acquired a number of assets from Bathurst Ltd. The assets had the following fair values at that date In exchange for these assets, Wollongong Ltd issue 200000 shares with a fair value of $2.95 per share. The directors of Wollongong Ltd decided to measure plant at fair value under the revaluation model and furniture at cost. The plant was considered to have a further 10 year life with benefits being received evenly over that period, whereas furniture is depreciated evenly over a 5 year period. At 31 December 2009, Wollongong Ltd assessed the carrying amounts of its assets as follow: - Plant A was valued at $296000, with an expected remaining useful life of 8 years. - Plant B was valued at $168000, with an expected remaining useful life of 8 years. - Furniture A's carrying amount was considered to be less than its recoverable amount. - Furniture B's recoverable amount was assessed to be $40000, with an expected remaining useful life of 4 years. Appropriate entries were made at 31 December 2009 for the half-yearly accounts. At 30 June 2010, Wollongong Ltd assessed the carrying amounts of its assets as follows: - Plant A was valued at \$274000 - Plant B was valued at $161500 - The carrying amounts of furniture were less than their recoverable amounts. Tax rate is 30% Required Prepare the journal entries passed during the 2009-2010 period in relation to the non-current assets in accordance with IAS 16 Property, plant and equipment