At December 31, Kagubatan Company provided you the following information regarding its assets in a forest plantation and farm: Land where trees were planted P 12,000,000 Roads constructed one year ago in forest 6,000,000 Freestanding trees 100,000,000 Animals in a zoo 10,000,000 Animals in ocean park 8,000,000 Animals displayed in a restaurant as added attraction 2,000,000 Bearer plants 30,000,000 Animals used for breeding purposes 10,000,000 Animals that produced agricultural products 30,000,000 Fruits growing on bearer plants 16,000,000 Agricultural produce harvested 24,000,000 Plants with dual use 28,000,000 QUESTION 1: What total amount should be reported as biological assets? Answer I Select] QUESTION 2: What total amount should be included in property, plant and equipment? Answer: [ Select]

At December 31, Kagubatan Company provided you the following information regarding its assets in a forest plantation and farm: Land where trees were planted P 12,000,000 Roads constructed one year ago in forest 6,000,000 Freestanding trees 100,000,000 Animals in a zoo 10,000,000 Animals in ocean park 8,000,000 Animals displayed in a restaurant as added attraction 2,000,000 Bearer plants 30,000,000 Animals used for breeding purposes 10,000,000 Animals that produced agricultural products 30,000,000 Fruits growing on bearer plants 16,000,000 Agricultural produce harvested 24,000,000 Plants with dual use 28,000,000 QUESTION 1: What total amount should be reported as biological assets? Answer I Select] QUESTION 2: What total amount should be included in property, plant and equipment? Answer: [ Select]

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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