White Ltd purchased land and buildings on 1 July 2014 for $1.8m. The land was valued at $0.8m. The buildings are depreciated over 20 years using the straight-line method and have zero residual value. Equipment was also purchased on that date for $200,000 with an estimated $50,000 residual value and a useful life of five years. The straight-line method of depreciation is used for the equipment.

At 30 June 2016, the following information is provided:

Fair Value Recoverable Amount

Land $920,000 $900,000

Equipment $128,000 $125,000

Buildings $790,000 $770,000

White Ltd has adopted the revaluation (fair value) model for both the land and the buildings, and the cost model for the equipment. No measurement adjustments were made in 2015.

Prepare general journal entries to record any measurement adjustments at 30 June 2016. Show all necessary calculations, assumptions and justifications. Narrations are NOT required.