ias41 1. •A farmer own a sheep herd of two years old each, at Jan 1st 2019. the number of sheep in the herd was 300. th
Posted: Sun Jul 03, 2022 3:49 pm
ias41
1.
•A farmer own a sheep herd of two years old each, at Jan 1st2019. the number of sheep in the herd was 300. the fair valueof the herd at this date was $30,000. the fair value of thetwo-year and three-year old animals at Dec 31st 2019 are $120 and$135 respectively.
The increase in the fair value due to prices changes:
a.$6,000
b.$4,500
c.$10,500
d.$0
2.
•A farmer own a sheep herd of two years old each, at Jan 1st2019. the number of sheep in the herd was 300. the fair valueof the herd at this date was $30,000. the fair value of thetwo-year and three-year old animals at Dec 31st 2019 are $120 and$135 respectively.
The increase in the fair value due to physical changes:
a.$6,000
b.$4,500
c.$10,500
d.$0
3.
•A farmer own a sheep herd of two years old each, at Jan 1st2019. the number of sheep in the herd was 300. the fair valueof the herd at this date was $30,000. the fair value of thetwo-year and three-year old animals at Dec 31st 2019 are $120 and$135 respectively.
The increase in the fair value due to price changes and physicalchanges would be recognized respectively:
a.Income statement and other comprehensive income
b.Both should be recognized in income statement
c.Both should be recognized in other comprehensive income
d.Other comprehensive income and income statement
1.
•A farmer own a sheep herd of two years old each, at Jan 1st2019. the number of sheep in the herd was 300. the fair valueof the herd at this date was $30,000. the fair value of thetwo-year and three-year old animals at Dec 31st 2019 are $120 and$135 respectively.
The increase in the fair value due to prices changes:
a.$6,000
b.$4,500
c.$10,500
d.$0
2.
•A farmer own a sheep herd of two years old each, at Jan 1st2019. the number of sheep in the herd was 300. the fair valueof the herd at this date was $30,000. the fair value of thetwo-year and three-year old animals at Dec 31st 2019 are $120 and$135 respectively.
The increase in the fair value due to physical changes:
a.$6,000
b.$4,500
c.$10,500
d.$0
3.
•A farmer own a sheep herd of two years old each, at Jan 1st2019. the number of sheep in the herd was 300. the fair valueof the herd at this date was $30,000. the fair value of thetwo-year and three-year old animals at Dec 31st 2019 are $120 and$135 respectively.
The increase in the fair value due to price changes and physicalchanges would be recognized respectively:
a.Income statement and other comprehensive income
b.Both should be recognized in income statement
c.Both should be recognized in other comprehensive income
d.Other comprehensive income and income statement