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A herd of five 4 year old animal was held on 1 January 20X3. On 1 July 20X3 a 4.5 year old animal was purchased for $215. ⚫ The fair values less estimated point of sale costs were: 4 year old animal at 1 January 20X3 @$200 . 4.5 year old animal at 1 July 20X3 @$215 5 year old animal at 31 December 20X3 @$230 The amount that will be taken to the statement of profit or loss for the year ended 31 December 20X3: a. 183 b. 168 C. 156 d. 138 e. 165

A herd of five 4 year old animal was held on 1 January 20X3. On 1 July 20X3 a 4.5 year old animal was purchased for $215. ⚫ The fair values less estimated point of sale costs were: 4 year old animal at 1 January 20X3 @$200 . 4.5 year old animal at 1 July 20X3 @$215 5 year old animal at 31 December 20X3 @$230 The amount that will be taken to the statement of profit or loss for the year ended 31 December 20X3: a. 183 b. 168 C. 156 d. 138 e. 165

FINANCIAL ACCOUNTING
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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A herd of five 4 year old animal was held on 1 January 20X3. On 1 July 20X3 a 4.5 year old animal was purchased for $215. The fair values less estimated point of sale costs were: • 4 year old animal at 1 January 20X3 • 4.5 year old animal at 1 July 20X3 @$200 @$215 • 5 year old animal at 31 December 20X3 @$230 ⚫ The amount that will be taken to the statement of profit or loss for the year ended 31 December 20X3: a. 183 b. 168 C. 156 d. 138 e. 165
Transcribed Image Text:A herd of five 4 year old animal was held on 1 January 20X3. On 1 July 20X3 a 4.5 year old animal was purchased for $215. The fair values less estimated point of sale costs were: • 4 year old animal at 1 January 20X3 • 4.5 year old animal at 1 July 20X3 @$200 @$215 • 5 year old animal at 31 December 20X3 @$230 ⚫ The amount that will be taken to the statement of profit or loss for the year ended 31 December 20X3: a. 183 b. 168 C. 156 d. 138 e. 165
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