The Carrying amount for land is $450 000.The Fair value for Land is $520 000.

Suppose that the BCVR land is still on hand of the subsidiary on 30 June 2020. The following NCI journal entries are made for the calculation of the NCI share of equity on 30 June 2020. The amounts for each account are not provided for the sake of simplicity.

Share capitalDrXXX

General reserveDrXXX

Revaluation surplusDrXXX

RE (op)DrXXX

OPATDrXXX

BCVRDrXXX

NCICrXXX

Now, if the BCVR land is sold during the fiscal year ended on 30 June 2020 (rather than still on hand), what changes will need to be made to the NCI journal entries shown above? Explain the changes and provide reasons for them.