ABC Company provided the following information about assets in forest plantation:Freestanding trees5,000,000900,000500,0002,000,0001,500,000Land under treesRoads in forestAnimals related to recreational activitiesRubber trees and grape vinesWhat amount should be reported as biological assets?

Solution Biological assets means are basically the assets that are living and it includes living…

\BC Company provided the following information about assets in Freestanding trees Land under trees 5,000,000 900,000 500,000 2,000,000 1,500,000 Roads in forest Animals related to recreational activities Rubber trees and grape vines Vhat amount should be reported as biological assets?

\BC Company provided the following information about assets in Freestanding trees Land under trees 5,000,000 900,000 500,000 2,000,000 1,500,000 Roads in forest Animals related to recreational activities Rubber trees and grape vines Vhat amount should be reported as biological assets?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

ABC Company provided the following information about assets in forest plantation:
Freestanding trees
5,000,000
900,000
500,000
2,000,000
1,500,000
Land under trees
Roads in forest
Animals related to recreational activities
Rubber trees and grape vines
What amount should be reported as biological assets?

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