Marko Corporation has several assets for classification as biological assets. After reviewing the data gathered shown in the image, how much should Marko report as net gain from change in fair value of biological assets for the quarter? Cocoa pods kept in storage for the whole period Cows and Cocoa Trees Sheep P300,000 800,000 Cost Carrying Value, April 1, 2020 Increase or (decrease) in value from price change Increase or (decrease) in value from physical change P400,000 900,000 P 200,000 (40,000) (50,000) 20,000 100,000 180,000 50,000

Marko Corporation has several assets for classification as biological assets. After reviewing the data gathered shown in the image, how much should Marko report as net gain from change in fair value of biological assets for the quarter? Cocoa pods kept in storage for the whole period Cows and Cocoa Trees Sheep P300,000 800,000 Cost Carrying Value, April 1, 2020 Increase or (decrease) in value from price change Increase or (decrease) in value from physical change P400,000 900,000 P 200,000 (40,000) (50,000) 20,000 100,000 180,000 50,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 90PSB

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