Reference no: EM132835591

Forester Company provided the following assets in a forest plantation and farm:

Freestanding trees - P5,000,000;

Land under trees-P600,000;

Roads in forest-P300,000;

Animals related to recreational activities-P1,000,000;

Bearer plants-P1,500,000;

Bearer animals-P2,000,000;

Agricultural produce growing on bearer plants - P800,000;

Agricultural produce havested-P1,200,000'

Plants with dual use P1,400,000.

Problem a: What total amount should be reported at biological assets?

Problem b: How much is the property, plant and equipment.