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How much should be classified as intangible assets

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Problem 1: CheeneCooky, which is in agribusiness, produces cacao to sell to chocolate factories. Its statement of financial position at 31 December 2018 presents two tractors (P500,000 each), three computers (P20,000 each) and software (P50,000) to manage the cultivation of cacao on its farmland, which is planted with cacao-bearing trees (estimated value, P10 million). The entity's assets also include pods of recently harvested cacao (estimated value, P2 million). How much should be classified as intangible assets?

Reference no: EM132737356

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