Vavakuttan Ltd operates a large scale lavender farm supplying companies producing high quality essential oils in the Man
Posted: Thu May 19, 2022 2:53 pm
Vavakuttan Ltd operates a large scale lavender farm supplying
companies producing high quality essential oils in the
Manama region. On 30 June 2012 the farm was independently
appraised and the lavender farm valued at $500 000. On 31 October
2012 lavender seed flowers that had a fair value less costs to sell
of $100 000 were harvested and sold on the same day for the same
amount. Picking costs and delivery charges to point-of-sale was $10
000. On 30 June 2013 the farm was valued at $550 000. What is the
net profit for Melinda and Lynne Ltd on 30 June 2013?
companies producing high quality essential oils in the
Manama region. On 30 June 2012 the farm was independently
appraised and the lavender farm valued at $500 000. On 31 October
2012 lavender seed flowers that had a fair value less costs to sell
of $100 000 were harvested and sold on the same day for the same
amount. Picking costs and delivery charges to point-of-sale was $10
000. On 30 June 2013 the farm was valued at $550 000. What is the
net profit for Melinda and Lynne Ltd on 30 June 2013?