A herd of 50, 1-year old and 50, 2-year old animals were held by Icor Company at January 1, 2015. The company also purchased 20 animals aged 1.5 and 20 animals aged 2.5 on July 1, 2015.the following are the fair value of the biological assets: Age of animals Jan. 1, 2015 July 1, 2015 Dec. 31, 2015 1.0-year old P 2,500 P 3,000 P 3,500 1.5 year old 3,750 4,500 5,250 2.0-year old 5,000 6,000 7,000 2.5-year old 6,250 7,500 8,750 3.0-year old 7,500 9,000 10,500 0.0-year old 1,000 1,200 0.5-year old 2,000 20 Animals were born on July 1, 2015. 17. How much of the increase in the fair value of the biological assets due to price change? 18. How much the increase in the fair value of the biological assets due to physical change? 19. What is the fair value of the biological assets as of December 31, 2015?
A herd of 50, 1-year old and 50, 2-year old animals were held by Icor Company
at January 1, 2015. The company also purchased 20 animals aged 1.5 and 20 animals aged 2.5 on
July 1, 2015.the following are the fair value of the biological assets:
Age of animals Jan. 1, 2015 July 1, 2015 Dec. 31, 2015
1.0-year old P 2,500 P 3,000 P 3,500
1.5 year old 3,750 4,500 5,250
2.0-year old 5,000 6,000 7,000
2.5-year old 6,250 7,500 8,750
3.0-year old 7,500 9,000 10,500
0.0-year old 1,000 1,200
0.5-year old 2,000
20 Animals were born on July 1, 2015.
17. How much of the increase in the fair value of the biological assets due to price change?
18. How much the increase in the fair value of the biological assets due to physical change?
19. What is the fair value of the biological assets as of December 31, 2015?
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