Additional Problem 19 Batman Ltd. is preparing its end of year financial statements at 30 June 2018 The balance sheet shows only two non-current assets, buildings and office furniture. After depreciation entries were completed for the year ending 30 June 2018, the accumulated depreciation of its non-current assets were as follows: Buildings Accumulated Depreciation (50,000) 242,000 Office Furniture Accumulated Depreciation 70,000 (38,000) The company applies the revaluation model to buildings and the cost model to office furniture. At 30 June 2018, the following values relating to the assets have been determined Fair value 155,000 17,000 Value in use Costs to sell 6,000 3.000 Buildings Office Furniture 156,000 3,000 Required (a) Prepare the necessary general journal entries in relation to the buildings for the year ended 30 June 2018 and justify in accordance with appropriate accounting standards. Show all workings (narrations are not required) (b) Prepare the necessary general journal entries in relation to the office furniture for the year ended 30 June 2018 and justify in accordance with appropriate accounting standards. Show all workings (narrations are not required) (c) For the year ended 30 June 2019, prepare the necessary general journal entries in relation to the Buildings (assuming depreciation for the year is $10,000 and the fair value of the buildings at 30 June 2019 was $250,000) Show all workings (narrations are not required)