Time left o On 1 July 2027. ZIG Lid acquires the business of ZAG Ltd. The agreed consideration transferred for the business combination in as follows. Fair value Cash $250 000 Land 250 000 Shares in ZIG Ltd 250 000 Contingent Consideration 50 000 The land had a carrying amount to ZIG Lid of $150 000. The costs associated with the issue of shares in ZIG Ltd were $5000. The contingent consideration is for additional shares in ZIG Ltd that will be issued if financial performance targets are met in the first 12 months after the transaction. What will ZIG Ltd record for the land on 1 July 2022 before recognising the consideration transferred at fair value? U a. DR. Land $100 000 CR. Gain on Remeasurement (OCI) $100 000 O b. DR. Land $100 000 CR. Gain on Remeasurement $100 000 Search 19 no 141