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A farmer buys 1 , 2 4 0 chickens for $ 1 4 8 , 8 0 0 at the beginning of 2 0 3
A farmer buys chickens for $ at the beginning of The cost to feed, shelter, and grow the chickens is $ in and $ in Based on the chickens' age and size, the fair value at the end of was $ On November the chickens are slaughtered for a cost of $ The fair value of the carcasses is $
Required:
Prepare the journal entries for and under IFRS. If no entry is required for a transactionevent select No journal entry required" in the first account field.
Record Journal entries for:
Record the purchase of chickens for $ at the beginning of under IFRS.
Record the $ cost incurred in to feed, shelter, and grow the chickens under IFRS.
Record the fair value gain or loss on chickens if the fair value at the end of was $ under IFRS.
Record the $ cost incurred in to feed, shelter, and grow the chickens under IFRS.
Record the cost to slaughter the chickens at a cost of $ under IFRS.
Record the fair value gain or loss on carca'sses if the fair value of the carcasses is $ under IFRS.
Prepare the journal entries under ASPE. If no entry is required for a transactionevent select No journal entry required" in the first account field.
Record Journal entries for:
Record the purchase of chickens for $ at the beginning of under ASPE.
Record the $ cost incurred in to feed, shelter, and grow the chickens under ASPE.
Record the $ cost incurred in to feed, shelter, and grow the chickens under ASPE.
Record the cost to slaughter the chickens at a cost of $ under ASPE.
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