Marko Corporation has several assets for classification as biological assets. After reviewing the data gathered shown in the image, how much should Marko report as net gain from change in fair value of biological assets for the quarter? Cocoa pods kept in storage for the whole period Cows and Cocoa Trees Sheep P300,000 800,000 Cost Carrying Value, April 1, 2020 Increase or (decrease) in value from price change Increase or (decrease) in value from physical change P400,000 900,000 P 200,000 (40,000) (50,000) 20,000 100,000 180,000 50,000

Marko Corporation has several assets for classification as biological assets. After reviewing the data gathered shown in the image, how much should Marko report as net gain from change in fair value of biological assets for the quarter? Cocoa pods kept in storage for the whole period Cows and Cocoa Trees Sheep P300,000 800,000 Cost Carrying Value, April 1, 2020 Increase or (decrease) in value from price change Increase or (decrease) in value from physical change P400,000 900,000 P 200,000 (40,000) (50,000) 20,000 100,000 180,000 50,000

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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