How much is the increase in the fair value of the biological asset due to physical...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How much is the increase in the fair value of the biological asset due to physical change? Wander Company is in business of cattle farming. A herd of 200, 3 year old and 150 4-year old cattle are held on January 1, 2016. On July 2016, 30 calves were born. The only change during the year is the increase in their physical attributes due to ageing. The relevant data are as follows: Fair value of a 3-year old cattle at 1 January 2016 Fair value of a 4-year old cattle at 1 January 2016 Fair value of a 0-month old calf at July 1, 2016 Fair value of a 0-month old calf at December 31, 2016 Fair value of a 6-month old calf at December 31, 2016 Fair value of a 3-year old cattle at December 31, 2016 Fair value of a 4-year old cattle at December 31, 2016 Fair value of a 5-year old cattle at December 31, 2016 P4.500 6,000 1,000 1,300 1,700 4,950 6,750 8,700 How much is the increase in the fair value of the biological asset due to physical change? Wander Company is in business of cattle farming. A herd of 200, 3 year old and 150 4-year old cattle are held on January 1, 2016. On July 2016, 30 calves were born. The only change during the year is the increase in their physical attributes due to ageing. The relevant data are as follows: Fair value of a 3-year old cattle at 1 January 2016 Fair value of a 4-year old cattle at 1 January 2016 Fair value of a 0-month old calf at July 1, 2016 Fair value of a 0-month old calf at December 31, 2016 Fair value of a 6-month old calf at December 31, 2016 Fair value of a 3-year old cattle at December 31, 2016 Fair value of a 4-year old cattle at December 31, 2016 Fair value of a 5-year old cattle at December 31, 2016 P4.500 6,000 1,000 1,300 1,700 4,950 6,750 8,700
Expert Answer:
Answer rating: 100% (QA)
The increase in the fair value of the biological asset du... View the full answer
Related Book For
Applying International Financial Reporting Standards
ISBN: 978-0730302124
3rd edition
Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise
Posted Date:
Students also viewed these accounting questions
-
On a Saturday afternoon in May 2015, Robert Boyle and his wife Janet were sitting on the porch of their house on Saltspring Island, British Columbia, watching the fog roll in. The couple frequently...
-
ABC Company has the following information pertaining to its biological assets for the year 2020: A herd of 150, 3-year old animals was held at January 1, 2020. Eight animals aged 2.5 years were...
-
On January 1, 2015, Green Company acquired 5-year bonds with a total face value of P5, 000, 000 for P5, 379, 079. The bonds carry an interest of 12% per year payable every December 31. The bonds are...
-
The compound bow in the previous problem requires 152 J of work to draw the string back to x = 0.540 m, at which point the archer need only exert 250 N of force to hold the string in place. (a)...
-
The standard operating capacity of Tecate Manufacturing Co. is 1,000 units. A detailed study of the manufacturing data relating to the standard production cost of one product revealed the following:...
-
Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2018 is $192,000, and they...
-
A rigid tank contains a hot fluid that is cooled while being stirred by a paddle wheel. Initially, the internal energy of the fluid is \(800 \mathrm{~kJ}\). During the cooling process the fluid loses...
-
Gutierrez Company reported net income of $225,000 for 2017. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet...
-
A 1000 gallon holding tank that catches runoff from some chemical process initially has 800 gallons of water with 2 ounces of pollution dissolved in it. Polluted water flows into the tank at a rate...
-
A 3 MWe wind turbine can be placed at either Site A or B, which have respective probability density functions for the wind velocity at the site (assume that the power output of the turbine varies as...
-
Data concerning the cash records of Arones Company for the months of November and December 20x1 are shown below (SEE PICTURE BELOW): 34. How much is the adjusted cash in bank balance as of November...
-
Consider the wage equation used in Example 10.5. Suppose we have a variable designed to measure ABILITY. This variable is an index created using 10 different tests of cognitive ability. Using data on...
-
A water pipe in a building delivers 1000 liters (with mass 1000 kg) of water per second. The water is moving through the pipe at 1.4 m/s. The pipe has a 90 bend, and the pipe will require a...
-
The data file stockton5_small contains observations on 1200 houses sold in Stockton, California, during 1996-1998. [Note: The data file stockton5 includes 2610 observations.]. Scale the variable...
-
Each chapter in the textbook contains a continuation of this problem. The objective is to learn how to do a comprehensive financial statement analysis in steps as the content of each chapter is...
-
If we have a large sample of data, then using critical values from the standard normal distribution for constructing a \(\boldsymbol{p}\)-value is justified. But how large is "large"? a. For a...
-
On April 19, 2019, the US Securities and Exchange Commission (SEC) published a settled administrative proceeding against Prosper Funding LLC (Prosper) for violating Section 17(a)(2) of the Securities...
-
Two mutually exclusive investment alternatives are being considered. Alternative A requires an initial investment of $20,000 in a machine. Annual operating and maintenance costs are anticipated to be...
-
Andrew Brown is the group accountant for P Ltd. P Ltd owns 60% of A Ltd which owns 70% of B Ltd. He has just completed the preparation of the consolidated financial statements of the group, and is...
-
Distinguish between basic earnings per share and diluted earnings per share.
-
In relation to the following case situations, discuss whether you regard the reporting entities exposed to foreign exchange gains and losses in relation to the foreign entity.
-
True or False. The Rayleigh-Ritz method assumes that the solution is a series of functions that satisfy the boundary conditions of the problem.
-
Free end a. Bending moment \(=0\); shear force equals the b. Deflection \(=0\); slope \(=0\) c. Deflection \(=0\); bending moment \(=0\) d. Bending moment \(=0\); shear force \(=0\)
-
The boundary condition corresponding to the free end of a bar in longitudinal vibration is given by a. \(u(0, t)=0\) b. \(\frac{\partial u}{\partial x}(0, t)=0\) c. \(A E \frac{\partial u}{\partial...
Study smarter with the SolutionInn App