QUESTIONS non current atteland and an equipment Both assets were acquired on y 2018. The Land cost $100.000 and is measured hi recost $2.000 and is measured using the cost model The company expects the equipment to have a useful life Theates values on 30 june 2020 are as below: air Values Recoverable Amounts 120.000 125.000 14.000 15.000 ornament and indicator originment reversal exist on 30 June 2020. Prepare the appropriate journal entries to record the value och terron 20 June 2001 Show works for asset revaluation and impairment testing QUESTIONS s two non current assets: land and an equipment. Both assets were acquired on 1 July 2019. The Land cost $100,000 and is measured tation model. The equipment cost $20.000 and is measured using the cost model. The company expects the equipment to have a useful life and era residual value. The assets values on 30 June 2020 are as below: Fair Value $ Recoverable Amount S 120.000 125,000 Ecument 18.000 15.000 Required Assuming andicator of impairment a d indicator of impairment reversal elut on 30 June 2020. Prepare the appropriate journal entries to record the value charges for both assets on 30 June 120. Show workings for asset revaluation and impairment testing