Use the following information for the next three questions: ABC Co. has the following assets. Maize plants 40,000 Wool 6,000 Processed fruit 20,000 Logs 60,000 Trees in a timber plantation 200,000 Grape vines 120,000 Cotton plants 20,000 Picked fruit 20,000 Harvested latex 30,000 Roasted peanuts 20,000 1. How much is classified as biological assets that are accounted for under PAS 41 Agriculture? 2. How much is classified as property, plant and equipment that are accounted for under PAS 16 Property, Plant and Equipment? 3. How much is classified as agricultural produce?
Use the following information for the next three questions:
ABC Co. has the following assets.
Maize plants 40,000
Wool 6,000
Processed fruit 20,000
Logs 60,000
Trees in a timber plantation 200,000
Grape vines 120,000
Cotton plants 20,000
Picked fruit 20,000
Harvested latex 30,000
Roasted peanuts 20,000
1. How much is classified as biological assets that are accounted for under PAS 41 Agriculture?
2. How much is classified as property, plant and equipment that are accounted for under PAS 16 Property, Plant and Equipment?
3. How much is classified as agricultural produce?
4. How much is classified as inventory?
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