Agri-Corp. provided you details on items relating to its biological assets. How much should be reported as gain on change in fair value of biological assets for the six-month period ending June 31, 2020? Fruit trees, at net realizable value Fruit growing on the trees Original cost Jan. 1, 2020 | June 31, 2020 P 800,000 P 1,000,000 100,000 60,000 P1,200,000 200,000 64,800 9,500 Cattles 50,000 9,000 Cattles purchased on May 30, 2020

Agri-Corp. provided you details on items relating to its biological assets. How much should be reported as gain on change in fair value of biological assets for the six-month period ending June 31, 2020? Fruit trees, at net realizable value Fruit growing on the trees Original cost Jan. 1, 2020 | June 31, 2020 P 800,000 P 1,000,000 100,000 60,000 P1,200,000 200,000 64,800 9,500 Cattles 50,000 9,000 Cattles purchased on May 30, 2020

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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2
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