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Accounting for Biological Assets) The Company has the following animals on January 1 2020 Twenty2-year-old Thirty 1-year-old During the year, the Company made the following transactions A on January 1, 2020. the Company purchased the following for P50.000 Five 05-year-olds Ten newborn 6. On June 30, 2020 10 animals were bom c on June 30 2020, the Company purchased the following for P40.000 Two 05-year-olds Eight newborn On December 31 2020 the Company sold the following at PV.CTS Ten year-olds Five 05-year-olds The fair values less cost to sell on different dates are as follows: L1.2020 Aune 20.2020 FVCCUS FAS 2-year old 201000 2year old 27.000 1.wold 13.000 1-year old 13.500 05-year old 6.500 0 year old 7.000 Newborn 2.500 Newbom 3.200 December 31, 20:20 Age FVOUS 3-year old 320 2-year old 22.000 15 year old 18.000 1-year old 14.000 0 5year old 8.000 Newbom 3,500 Required A Journalize the above transactions plus the changes in FV.CTS at year end 8 Compute for the total change in FV.CIS Ove to prce change C Compute for the total change a FV.CTS due to physical chango Compute for the year-end balance of the biological asses E Prepare reconciliation of the year-end balance of the biological assets Accounting for Biological Assets) The Company has the following animals on January 1 2020 Twenty2-year-old Thirty 1-year-old During the year, the Company made the following transactions A on January 1, 2020. the Company purchased the following for P50.000 Five 05-year-olds Ten newborn 6. On June 30, 2020 10 animals were bom c on June 30 2020, the Company purchased the following for P40.000 Two 05-year-olds Eight newborn On December 31 2020 the Company sold the following at PV.CTS Ten year-olds Five 05-year-olds The fair values less cost to sell on different dates are as follows: L1.2020 Aune 20.2020 FVCCUS FAS 2-year old 201000 2year old 27.000 1.wold 13.000 1-year old 13.500 05-year old 6.500 0 year old 7.000 Newborn 2.500 Newbom 3.200 December 31, 20:20 Age FVOUS 3-year old 320 2-year old 22.000 15 year old 18.000 1-year old 14.000 0 5year old 8.000 Newbom 3,500 Required A Journalize the above transactions plus the changes in FV.CTS at year end 8 Compute for the total change in FV.CIS Ove to prce change C Compute for the total change a FV.CTS due to physical chango Compute for the year-end balance of the biological asses E Prepare reconciliation of the year-end balance of the biological assets