A group of thirty 2-year old piggy was held byRalph Ranch at January 1, 2022. Five one-year old piggy were purchased on January 5,2022 for P8,000 each and ten were born onsame date. No biological assets weredisposed during the year. Per unit fair valuesless cost to sell were as follows:January 1AgeDecember 313-year old---P16,5002-year old1-year oldnewborn-----P15,000--11,2008,5006,00011,6008,8006,500The company discloses separately theincrease in fair value less cost to sell due tophysical change and change in fair value lesscost to sell due to price change.How much is the increase in fair value due tophysical change?

The fair value of an asset is a topic of accounting and finance. In accounting, fair value is…

A group of thirty 2-year old piggy was held by Ralph Ranch at January 1, 2022. Five one- year old piggy were purchased on January 5, 2022 for P8,000 each and ten were born on same date. No biological assets were disposed during the year. Per unit fair values less cost to sell were as follows: Age December 31 3-year old------ P16,500 2-year old 1-year old newborn January 1 -P15,000 --11,200 8,500 6,000 11,600 8,800 6,500 The company discloses separately the increase in fair value less cost to sell due to physical change and change in fair value less cost to sell due to price change. How much is the increase in fair value due to physical change?

A group of thirty 2-year old piggy was held by Ralph Ranch at January 1, 2022. Five one- year old piggy were purchased on January 5, 2022 for P8,000 each and ten were born on same date. No biological assets were disposed during the year. Per unit fair values less cost to sell were as follows: Age December 31 3-year old------ P16,500 2-year old 1-year old newborn January 1 -P15,000 --11,200 8,500 6,000 11,600 8,800 6,500 The company discloses separately the increase in fair value less cost to sell due to physical change and change in fair value less cost to sell due to price change. How much is the increase in fair value due to physical change?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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