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How much is the increase in the fair value of the biological asset due to physical change? Wander Company is in business of cattle
How much is the increase in the fair value of the biological asset due to physical change? Wander Company is in business of cattle farming. A herd of 200, 3 year old and 150 4-year old cattle are held on January 1, 2016. On July 2016, 30 calves were born. The only change during the year is the increase in their physical attributes due to ageing. The relevant data are as follows: Fair value of a 3-year old cattle at 1 January 2016 Fair value of a 4-year old cattle at 1 January 2016 Fair value of a 0-month old calf at July 1, 2016 Fair value of a 0-month old calf at December 31, 2016 Fair value of a 6-month old calf at December 31, 2016 Fair value of a 3-year old cattle at December 31, 2016 Fair value of a 4-year old cattle at December 31, 2016 Fair value of a 5-year old cattle at December 31, 2016 P4.500 6,000 1,000 1,300 1,700 4,950 6,750 8,700
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