1. What is the carrying amount of the biological assets on December 31?а. 3,160,000 b. 2,350,000 c. 2,800,000 d. 2,380,000What amount should be reported as gain from change in fair value attributable to price change?a. 810,000 b. 450,000 c. 360,000 d. 0.3. What amount should be reported as gain from change in fair value attributable to physical change?а. 810,000 b. 450,000 c. 360,000 d. 700,000 15 Horses10 Dairy cattle (28 Carabaos20 Hogs(1year old )years old)( 2.5 years old )1,000,000400,000200,000500,000( 3years old)2,100,000Purchases on June 30:4 Dairy cattle (16 Carabaosyear old )( 6 months old)150,000100,000250,000Fair value less cost of disposal on December 31:15 Horses10 Dairy cattle (28 Carabaos20 Hogs4 Dairy cattle (16 Carabaos( 1years old )( 2.5 years old )( 3year old )1,200,000520,000250,000550,000170,000110,000years old )year old )(6 months old )2,800,000Fair value less cost of disposal on December 31:15 Horses10 Dairy cattle (38 Carabaos20 Hogs4 Dairy cattle (1.5 years old )6 Carabaos( 2years old)( 3.5 years old)( 41,350,000580,000290,000600,000200,000140,000years old)years old)( 1year old )3,160,000were no farm animals sold during the year and neitherThereere there any newborns nor deaths.371

Biological Assets Biological assets which is described as living assets such as trees, animals etc.…

1. What is the carrying amount of the biological assets on December 31? а. 3,160,000 b. 2,350,000 c. 2,800,000 d. 2,380,000 What amount should be reported as gain from change in fair value attributable to price change? a. 810,000 b. 450,000 c. 360,000 d. 0. 3. What amount should be reported as gain from change in fair value attributable to physical change? а. 810,000 b. 450,000 c. 360,000 d. 700,000

1. What is the carrying amount of the biological assets on December 31? а. 3,160,000 b. 2,350,000 c. 2,800,000 d. 2,380,000 What amount should be reported as gain from change in fair value attributable to price change? a. 810,000 b. 450,000 c. 360,000 d. 0. 3. What amount should be reported as gain from change in fair value attributable to physical change? а. 810,000 b. 450,000 c. 360,000 d. 700,000

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter10: Project Cash Flows And Risk

Section: Chapter Questions

Problem 14PROB

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