On 30 June 2019, Bella Ltd gained control of Morris Ltd by purchasing all its share capital. On the control date, the fair values of Morris Ltds following assets differed from their carrying amounts:

Carrying amount ($) Fair value ($)

Accounts receivable 6 700 7 700

Inventory 80 000 84 000

Building (cost $240 000, with nil residual value) 210 000 200 000

Also, Morris Ltd in its own financial statements at 30 June 2019 disclosed a contingent liability relating to guarantees for loans. Bella Ltd determined that this liability had a fair value of $9,000.

Additional information:

• None of the above inventory was sold to external parties in the year ended 30 June 2020.
• The above building had a further 4 years useful life at 30 June 2019. Morris Ltd applied the cost model to buildings and continued to do so after the control date. However, for group/consolidation purposes, revaluation to fair value is the model applied. The group and Morris Ltd both apply straight-line depreciation to buildings.

Prepare journal entries for the required consolidation data adjustments on 30 June 2020