Kamsawit Bhd is an agriculture company that involves in Jamnapari goats breeding and oil palm plantation. The company started business operation in January $2015.$ The company$$s financial year ends on $31$ December every year. The company owns $7-$hectare of land planted with about $1,000$ oil palm trees. Oil palm trees will start bearing fruit after $30$ months of field planting and continue to produce for the following $20$ to $30$ years. The accountant of the company believe that the oil palm trees should be treated as the biological assets. Meanwhile, goat breeding has been carried out on $2-$hectare of land. The Jamnapari goat can be sold at the range of $6$ to $24$ months old. At the end of $2021,$ the company had $1,400$ of $10-$month$-$old goats. The following information is related to the agricultural activities incurred during financial year $2022$:

: Date Transaction

$1$ January $2022$ Received an agriculture grant of RM$50,000$ from the federal government. The grant is earned once the company is able to produce more than $100$ tan metrics of oil palm fruit.

$3$ February $2022$ Sold $800,11-$month$-$old goats at RM$3,100$ per goat and incurred RM$22,000$ of operating expense for goat breeding.

$1$ June $2022$ Purchased $1,500,3-$month$-$old Jamnapari kids at the total price of RM$480,000.$

$31$ October $2022$ Sold $300,8-$month$-$old goats at RM$2,900$ per goat which were purchased on $1$ June $2022.$

Additional information: The fair value less costs to sell of goats is as follows:

Date Age Fair value $($per unit$)$

$31$ December $202110-$month$-$old RM$1,200$

$31$ December $202220-$month$-$old and above RM$4,300$

$10-$month$-$old RM$1,100$

REQUIRED: $($Show all workings and round all numbers to the nearest RM$)$

$($a$)$ Discuss the accounting treatment for the agriculture grant awarded by the federal government to Kamsawit Bhd on $1$ January $2022.$

$($b$)$ Prepare journal entries to record the Jamnapari goat breeding during the financial year $2022.$

$($c$)$ Give your opinion on the treatment of the oil palm trees by the accountant of Kamsawit Bhd in accordance with MFRS $141$ Agriculture and provide your justification