Sunshine Honey Ltd. Is a publicly traded company that began its beehive operations on April 1, 2023, with the purchase of 220 beehives for $1,432,000. It has completed the first month of operations and has the following information for its hives at the end of 2023:

Hives:

Change in fair value due to growth and price changes................... $(13,000)

Decrease in fair value due to harvest.............................................. $(750)

Honey harvested during April 2023 (at net realizable value).......... $$2,400

Sunshine Honey sells the honey harvested for $3,200.

Instructions

a) Prepare the journal entries for Sunshines biological assets for the month of April 2023

b) Prepare the journal entry for the honey harvested by Woods during April 2023

c) Would these entries change if Sunshine was using ASPE instead of IFRS? If so, what would be different?