What is the gain from change in fair value due to physical change on December 31, 2020? AJUMA Farms operates a farm with various plants and a herd of animals. On January 1, 2020, it had ten (10) 1-year old animals and five (5) 2-year-old animals. On July 1, two animals were born. On December 31, 2020, three (3) 2-year- old animals were sold. Fair value less cost of disposal per unit are shown below: 1-year old animal on January 1 1-year old animal on December 31 2-year-old animal on January 1 2-year-old animal on December 31 3-year-old animal on December 31 New born animal on July 1 New born animal on December 31 500 600 650 800 950 300 350 0.5-year-old animal on December 31 400 4,400 3,250 O 2,850 O 1,550

What is the gain from change in fair value due to physical change on December 31, 2020? AJUMA Farms operates a farm with various plants and a herd of animals. On January 1, 2020, it had ten (10) 1-year old animals and five (5) 2-year-old animals. On July 1, two animals were born. On December 31, 2020, three (3) 2-year- old animals were sold. Fair value less cost of disposal per unit are shown below: 1-year old animal on January 1 1-year old animal on December 31 2-year-old animal on January 1 2-year-old animal on December 31 3-year-old animal on December 31 New born animal on July 1 New born animal on December 31 500 600 650 800 950 300 350 0.5-year-old animal on December 31 400 4,400 3,250 O 2,850 O 1,550

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter13: Property Transact Ions: Determination Of Gain Or Loss, Basis Considerations, And Nontaxable Exchanges

Section: Chapter Questions

Problem 70P

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