Use the following information for the next three questions: ABC Co. has three, 1-year old, animals...

 

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Use the following information for the next three questions: ABC Co. has three, 1-year old, animals with total carrying amount of P3,000 on January 1, 20x1. On March 31, ABC Co. acquired two animals, aged 2.25 years old each, for P2,000 each, the fair value less costs of the animals on this date. Six animals were born on October 1, 20x1. The fair value less costs to sell of a newborn animal on this date is P500. ABC Co. determined the following fair values less costs to sell on December 31, 20x1: New born..... 25 year old...... 1 year old old...... 2 years old...... 2.25 years old..... • 3 years old....... 6. How much is the total gain (loss) from the change in FVLCS during the period? a. 4,000 b. 9,000 a. 1,800 b. 2,800 ..... P600 .P 800 P1,200 ....P2,400 ... P3,000 ..P3,500 c. 12,000 d. 18,000 7. How much is the change in FVLCS due to price change? c. 3,000 d. 3,200 a. 8,800 b. 9,000 8. How much is the change in FVLCS due to physical change? c. 9,200 d. 10,200 der 16 Use the following information for the next three questions: ABC Co. has three, 1-year old, animals with total carrying amount of P3,000 on January 1, 20x1. On March 31, ABC Co. acquired two animals, aged 2.25 years old each, for P2,000 each, the fair value less costs of the animals on this date. Six animals were born on October 1, 20x1. The fair value less costs to sell of a newborn animal on this date is P500. ABC Co. determined the following fair values less costs to sell on December 31, 20x1: New born..... 25 year old...... 1 year old old...... 2 years old...... 2.25 years old..... • 3 years old....... 6. How much is the total gain (loss) from the change in FVLCS during the period? a. 4,000 b. 9,000 a. 1,800 b. 2,800 ..... P600 .P 800 P1,200 ....P2,400 ... P3,000 ..P3,500 c. 12,000 d. 18,000 7. How much is the change in FVLCS due to price change? c. 3,000 d. 3,200 a. 8,800 b. 9,000 8. How much is the change in FVLCS due to physical change? c. 9,200 d. 10,200 der 16

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The detailed answer for the above question is provided below 6 How much is the total gain loss from the change in F V LCS during the period ANSWER D 1... View the full answer