2014 2015 2016 2017

Immature
Unit price 200 220 240 260
Commission per unit 20 22 24 26
Transfer tax per unit 6 8 10 12
174 190 206 222

2014 2015 2016 2017

Mature
Unit price 250 270 290 310
Commission per unit 25 27 29 31
Transfer tax per unit 10 12 14 16
215 231 247 263

2014 2015 2016 2017

Produce
Unit price 50 60 70
Commission per unit 5 6 7
Transfer tax per unit 1 2 3
- 44 52 60

Per unit
2014 2015 2016 2017
Immature
Beginning 200 150 175
Acquisition 200 100 120 140
New born 50 55 60
Transfer to mature (200) (150) (175)
200 150 175 200

FVLCTD 174 190 206 222

34,800 28,500 36,050 44,400
 2014 2015 2016 2017
Mature
Beginning 100 240 290
Acquisition 100
Sales (60) (100) (140)
Transfer from immature 200 150 175
100 240 290 325

FVLCTD 215 231 247 263

21,500 55,440 71,630 85,475

Grand Total 56,300 83,940 107,680 129,875

Reconciliation of carrying amount

2014 2015 2016 2017
Immature
Beginning 34,800 28,500 36,050
Acquisition 34,800 19,000 24,720 31,080
New born 9,500 11,330 13,320
Transfer to mature (38,000) (30,900) (38,850)
Change in FV due to Price 3,200 2,400 2,800
34,800 28,500 36,050 44,400

2014 2015 2016 2017

Mature
Beginning 21,500 55,440 71,630
Acquisition 21,500 - - -
Sales (13,860) (24,700) (36,820)
Transfer from immature 38,000 30,900 38,850
Change in FV due to Physical 8,200 6,150 7,175
Change in FV due to Price 1,600 3,840 4,640
21,500 55,440 71,630 85,475

Grand Total 56,300 83,940 107,680 129,875

FV of transferred mature 46,200 37,050 46,025

FV of transferred immature 38,000 30,900 38,850
Due to physical change 8,200 6,150 7,175
Journal Entries
2014
Biological Assets-Immature 34,800
Biological Assets-Mature 21,500
Loss on change in FV due to Price 8,700
Cash 65,000
#
2015 2016 2017

Biological Assets-Immature 19,000 24,720 31,080

Loss on change in FV due to Price 3,000 4,080 5,320
Cash 22,000 28,800 36,400
#

Biological Assets-Immature 9,500 11,330 13,320

Gain from Change in FV due to Physical 9,500 11,330 13,320
#
Cash 13,860 24,700 36,820
Commission 1,620 2,900 4,340
Transfer tax 720 1,400 2,240
Biological Assets-Mature 13,860 24,700 36,820
Gain on sale 2,340 4,300 6,580
#
Biological Assets-Mature 46,200 37,050 46,025
Biological Assets-Immature 38,000 30,900 38,850
Gain from Change in FV due to Physical 8,200 6,150 7,175
#

Biological Assets-Immature 3,200 2,400 2,800

Biological Assets-Mature 1,600 3,840 4,640
Gain from change in FV due to Price 4,800 6,240 7,440
#

Agricultural Produce 44,000 78,000 120,000

Gain from change in FV due to Physical 44,000 78,000 120,000
 #

Cash 44,000 78,000 120,000

Commission 5,000 9,000 14,000
Transfer tax 1,000 3,000 6,000
Sales 50,000 90,000 140,000
#

Cost of sales 44,000 78,000 120,000

Agricultural produce 44,000 78,000 120,000
#

2015 2016 2017

Sales 50,000 90,000 140,000

Cost of Sales 44,000 78,000 120,000
Gross Profit 6,000 12,000 20,000
Aggregate gain from change in FV 63,500 97,640 142,615
Gain on sale of bio assets 2,340 4,300 6,580
Total 71,840 113,940 169,195
Expense 8,340 16,300 26,580

Net Income 63,500 97,640 142,615

 January Febuary March
Consumables
Unit price 450 460 465
Cost of Disposal 18 21 19
Fair Value less COD 432 439 446

January Febuary March

Produce
Unit price 115 119 118
Cost of Disposal 12 11 10
Fair Value less COD 103 108 108
Per unit
January Febuary March
Consumables
Beginning 3,000 2,850 2,450
Purchase 750 600 820
Slaughtered (900) (1,000) (850)
2,850 2,450 2,420
FVLCTD 432 439 446
1,231,200 1,075,550 1,079,320

Grand Total 1,231,200 1,075,550 1,079,320

Reconciliation of carrying amount

January Febuary March
Consumables
Beginning 1,231,200 1,075,550
Purchase 1,231,200 263,400 365,720
Slaughtered (439,000) (379,100)
Change in FV due to Price 19,950 17,150
1,231,200 1,075,550 1,079,320

No of BA slaughtered 900 1,000 850

No of Kilos of produce 4950 5,860 5,117

Journal Entries
 January February March

Biological Assets-Consumables 1,231,200 263,400 365,720

Loss on change in FV due to Price 13,500 12,600 15,580
Cash 337,500 276,000 381,300
#

Agricultural Produce 509,850 632880 552,636

Biological Asset-Consumables 388,800 439,000 379,100
Gain from change in FV due to Physical 121,050 193,880 173,536

Biological Assets-Consumables 96,000 19,950 17,150

Gain from change in FV due to Price 96,000 19,950 17,150
#

Cash 509,850 632,880 552,636

Expenses 59,400 64,460 51,170
Sales 569,250 697,340 603,806
#

Cost of Sales 509,850 632,880 552,636

Agricultural Produce 509,850 632,880 552,636
#

2015 2016 2017

Sales 569,250 697,340 603,806

Cost of Sales 509,850 632,880 552,636
Gross Profit 59,400 64,460 51,170
Aggregate gain from change in FV 203,550 201,230 175,106
Total 262,950 265,690 226,276
Expense 59,400 64,460 51,170
Net Income 203,550 201,230 175,106