Valix Finacc vol 1 Problem 7-39

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 7-39

1. Biological asset                                                                          600,000

         Cash                                                                                                                  600,000

2. Biological asset                                                                          700,000

         Gain from change in fair value                                                                        700,000

3. Biological asset                                                                          100,000

         Gain from change in fair value                                                                        100,000

4. Loss from change in fair value                                                     90,000

          Biological asset                                                                                                90,000