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

Carrying amount ($)Fair value ($)

Land100000120 000

Building (cost=$250 000, residual value=$10 000)210000230 000

Additional information:

North Ltd applied the cost model to buildings and land, and continued to do so after the control date. The group and North Ltd both apply straight-line depreciation to buildings. The above building had a further 5 years' useful life at 30 June 2019. The fair value of the above land was $150 000 on 30 June 2020.

REQUIRED

Prepare journal entries for the required consolidation data adjustments on 30 June 2020.Narrations (for journal entries) arenotrequired.

Please journal entries neatly.An illustrative example is provided belowfor the format of journal entries.

Example only:

Dr Interest expense5000

Cr Interest payable5000