plain how Alma Plantation Bhd. accounts for its oil palm trees Nona Farm Heritage Bhd. purchased 5,000 cattle at a cost ofRM6,000,000 from JB Dairy Bhd. on 1 June 2016. Nona Farm's financial year end is 31 December. It is estimated that the fair value of cattle in the market on 31 December 2016 is RM6,200,000. The company estimates that commission to dealers is about RM10,000 if they decide to sell the sheep and the transport costs to bring the cattle to the market is about RM30,000 Required: Show how the above transactions are recorded in the financial statements of Nona Farm Heritage Bhd. as at 31 December 2016. 3 Alma Plantation Bhd. owns and manages a durian orchard in Bentong. Pahang. The company incurred the following costs in establishing the orchard in 2015. RM550,000 RM45,000 RM170,000 Cost of the land Cost of seedlings Plant and equipment (estimated useful life: 10 years) Fertilizers, feed and other costs Salaries and wages RM30,000 The company expected its first harvest in 2020 and the orchard is expected to have a lif of 30 years from the date of first harvest. Required: Explain how Alma Plantation Bhd. would determine the fair value of the orchard at the end of 2015