Question
PROBLEM 1: On December 31, 2021, the following data was provided by PEASHOOTER CORP., a company operating in a diverse agricultural activity: Item Amount 1.
PROBLEM 1:
On December 31, 2021, the following data was provided by PEASHOOTER CORP.,
a company operating in a diverse agricultural activity:
Item Amount
1. Sheep Php 400,000
2. Felled trees 2,680,000
3. Harvested cane 1,160,000
4. Coconut trees 4,800,000
5. Dairy cattle 4,000,000
6. Cigarette (Marlboro) 41,000
7. Sausages 20,000
8. Cured hams 36,000
9. Pig carcass 230,000
10. Fruit pickles 120,000
11. Trees in the plantation forest 12,000,000
12. Harvested cabbage 40,000
13. Carpet 260,000
14. Grape vines 1,500,000
15. Picked grapes 180,000
16. Wool 160,000
17. Tea 38,200
18. Cotton 1,360,000
19. Plants 1,400,000
20. Thread 80,000
21. Carrots due to be harvested next week 200,000
22. Low-fat milk 520,000
23. Wine 6,000,000
24. Picked fruit 49,400
25. Frozen lechon 120,000
26. Mango tree with ripe mango not yet harvested 1,400,000
27. K-9 guard dogs 300,000
28. Animals in zoo 24,000,000
29. Dinosaur statue in zoo 1,000,000
30. Tomato vines (with ripe fruit ready to harvest) 500,000
31. Strawberry plants 1,500,000
Required: Compute for the following to be presented on the statement of financial
position:
a. Biological assets
b. Agricultural produce
c. Inventories
d. Property, plant and equipment
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Management Accounting
Authors: Late RC Sekhar, AV Rajagopalan
1st Edition
195683609, 978-0195683608
