User Account

All Pages

What amount should the farm report in its statement

Assignment Help Accounting Basics
Reference no: EM133093057

Question - BTS Farm reported the following biological assets and agriculture produce for the year ended December 31, 2020:

ASSETS FAIR VALUE

Cotton plants - P820,000

Dairy cattle - 235,000

Diseased cattle - 75,000

Harvested cotton - 175,000

Harvested cane - 120,000

Milk on dairy cattle - 72,500

Sheep - 325,000

Sugarcane - 564,750

Wool from sheep - 25,000

Required -

1. What amount should the Farm report in its 2020 statement of financial position as biological asset?

2. What amount should the Farm report in its 2020 statement of financial position as inventory related to the above biological assets?

Reference no: EM133093057

Questions Cloud

Calculate the accounting break-even point : Assume that depreciation is straight-line to zero over life of project. Sales are projected at 40,000 units per year. Calculate accounting break-eveb point
Organizational strategy and risk management : Explain how project and portfolio management relate to organizational strategy and risk management.
Level of the corporate hierarchy : This question is a Management Information Systems related question. For a fast-food chain, name and describe the basic functions of two specific systems you wou
Explain the customer data and behaviours : An effective customer loyalty program combines customer data and behaviours so that the company can offer
What amount should the farm report in its statement : What amount should the Farm report in its 2020 statement of financial position as inventory related to the above biological assets
Real-time information technology systems : A firm's strategies cannot be implemented without a number of support systems to carry on business operations. Discuss how your firm or a company that you are f
How the nigeria culture impacts the ethical reasoning : An individual's cultural environment impacts what is perceived as a norm when conducting business. Using Nigeria country to research culture in different countr
Political involvement change : Studying U.S. politics is an eye-opening experience. How will your political involvement change after having taken this course in U.S. government, if at all?
Discrepancy and shrinkage reports : The supervisor has performed the stock control activities and prepared the discrepancy and shrinkage reports (completed in assessment task 2) for the manager.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd