7.4.2 Revaluations



a. Transformation of Biological Assets


Cost/Fair
Value
Cost to Sell Cost less
Cost to Sell
Original Stock 10,000 200 9,800
Revaluation


Original Stock (physical change)
14,000 200 13,800
Reproduction 18 @ 2,000
36,000 3,600 32,400
Total

46,200
Total Increase

36,400

Account Title Dr. Cr.

Biological Assets
Gain on Revaluation of Biological
Assets
36,400


36,400


7.4.3 Fair Value of Biological Assets


Cost/Fair
Value
Cost to Sell Cost less
Cost to Sell
Biological Assets - Pig 8,000 200 7,800
Pig (1)
8,000 200 7,800
5 Piglets @ P2,000/pc
10,000 500 9,500 _ 17,300
Current Fair Value

9,500

Account Title Dr. Cr.

Biological Assets
Gain on Revaluation of Biological
Assets
9,500


9,500


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