One of the cash-generating units of Gotcha Fish Ltd is associated with the manufacture of fishing equipment. At 30 June 2021, Gotcha Fish Ltd believed, based on an analysis of economic indicators, that the assets of the unit may be impaired. The carrying amounts of the assets and liabilities of the unit at 30 June 2021 were: Cash $ 40,000 Trade Receivables 20,000 Allowance for doubtful debts (5,000) Inventory 80,000 Plant 230,000 Accumulated depreciation - plant* (50,000) Buildings 480,000 Accumulated depreciation - buildings** (240,000) Land 100,000 Goodwill 25,000 Accounts payable 40,000 Loans 35,000 *depreciated at (p.a.) $50,000 **depreciated at (p.a.) $60,000 Gotcha Fish Ltd determined the value in use of the unit to be $605,000. The trade receivables were considered to be collectable, except those considered doubtful. The plant had a fair value less costs to sell of $170,000. The company allocated the impairment loss in accordance with AASB 136. During the 2021-22 period, Gotcha Fish Ltd increased the depreciation charge on plant to $55,000 p.a. and to $65,000 p.a. for the buildings. The inventory on hand at 1 July 2021 was sold by the end of the year. At 30 June 2022, Gotcha Fish, because of an observable return in the market of the use of fishing equipment, assessed the recoverable amount of the cash-generating unit to be $50,000 more than the carrying amount of the unit. As a result, Gotcha Fish Ltd recognised a reversal of the impairment loss. At 30 June 2022, the recoverable amount of the land was $95,000.

c) Provide the relevant journal entries for 30 June 2021.

d) Determine the allocation of the impairment reversal in 2022. Show all workings and explain, with reference to AASB 136, your treatment of various items.

e) Provide the relevant journal entries for 30 June 2022