Sea shores is a property investment company that focuses on buying land and buildings for purposes for rental and resale purposes. THe company currently own the following land and buildings.

	Use	Purchase Date	Depreciation	Cost	Model	Fair Value on 31 Dec 202
Braamfontein land	Rented to local Municipality	30 June 2019		10 000 000	Fair Value	14 000 000
Umhlanga Building	Constists of 50 apartments ,30 apartments rented out to tenants	01 May 2020	20% on cost	20 000 000	Cost	25 000 000
Richards bay Building	Will be sold on appreciation of the value	30 April 2020	?	8 400 000	Cost	8 400 000
Richards bay land	Occupied by sea shores	1 January 2020	20% on cost	12 000 000	Cost	10 000 000
Pretoria Building	Rented to tenants	1 February 2019		8 000 000	Fair Value	10 545 800

Required

Prepare all necessary journal entry for the year ended 31 December 2020