Professional Documents
Culture Documents
2011
Immature
Unit price
Commission per unit
Transfer tax per unit
200
20
6
174
2011
Mature
Unit price
Commission per unit
Transfer tax per unit
250
25
10
215
2011
2012
220
22
8
190
2012
240
24
10
206
2013
270
27
12
231
2012
Produce
Unit price
Commission per unit
Transfer tax per unit
290
29
14
247
2013
2014
260
26
12
222
2014
310
31
16
263
2014
50
5
1
44
60
6
2
52
70
7
3
60
1,000
1,500
2,000
Sales
2013
Per unit
2011
Immature
Beginning
Acquisition
New born
Transfer to mature
200
200
FVLCTD
174
34,800
2012
200
100
50
(200)
150
190
28,500
2013
150
120
50
(150)
170
206
35,020
2014
170
140
50
(170)
190
222
42,180
2011
Mature
Beginning
Acquisition
Sales
Transfer from immature
2012
2013
2014
100
240
290
(60)
200
240
(100)
150
290
(140)
170
320
100
100
FVLCTD
215
21,500
231
55,440
247
71,630
263
84,160
Grand Total
56,300
83,940
106,650
126,340
2012
2013
2014
34,800
19,000
9,500
(38,000)
3,200
28,500
28,500
24,720
10,300
(30,900)
2,400
35,020
35,020
31,080
11,100
(37,740)
2,720
42,180
2012
2013
2014
21,500
21,500
(13,860)
38,000
8,200
1,600
55,440
55,440
(24,700)
30,900
6,150
3,840
71,630
71,630
(36,820)
37,740
6,970
4,640
84,160
56,300
83,940
106,650
126,340
46,200
38,000
8,200
37,050
30,900
6,150
44,710
37,740
6,970
34,800
34,800
2011
Mature
Beginning
Acquisition
Sales
Transfer from immature
Change in FV due to Physical
Change in FV due to Price
Grand Total
FV of transferred mature
FV of transferred immature
Due to physical change
21,500
Journal Entries
2011 Biological Assets-Immature
Biological Assets-Mature
Loss on change in FV due to Price
Cash
#
34,800
21,500
8,700
65,000
2012
Biological Assets-Immature
Loss on change in FV due to Price
Cash
#
Biological Assets-Immature
Gain from Change in FV due to Physical
#
19,000
3,000
9,500
Biological Assets-Mature
Biological Assets-Immature
Gain from Change in FV due to Physical
#
46,200
10,300
44,000
5,000
1,000
36,820
4,340
2,240
37,050
44,710
2,400
3,840
37,740
6,970
2,720
4,640
6,240
78,000
44,000
7,360
120,000
78,000
78,000
9,000
3,000
50,000
36,820
6,580
30,900
6,150
4,800
Cash
Commission
Transfer tax
Sales
11,100
24,700
4,300
38,000
8,200
44,000
11,100
24,700
2,900
1,400
3,200
1,600
36,400
10,300
13,860
2,340
Agricultural Produce
Gain from change in FV due to Physical
#
31,080
5,320
28,800
9,500
13,860
1,620
720
2014
24,720
4,080
22,000
Cash
Commission
Transfer tax
Biological Assets-Mature
Gain on sale
#
Biological Assets-Immature
Biological Assets-Mature
Gain from change in FV due to Price
#
2013
120,000
120,000
14,000
6,000
90,000
140,000
#
Cost of sales
Agricultural produce
44,000
78,000
44,000
120,000
78,000
120,000
#
2012
2013
2014
Sales
Cost of Sales
Gross Profit
Aggregate gain from change in FV
Gain on sale of bio assets
Total
Expense
50,000
44,000
6,000
63,500
2,340
69,500
8,340
90,000
78,000
12,000
96,610
4,300
108,610
16,300
140,000
120,000
20,000
140,110
6,580
160,110
26,580
Net Income
61,160
92,310
133,530
2009
Cost of production
Fair value of agricultural produce at harvest per unit
Cost of transfer tax per unit at harvest
Cost of commission per unit at harvest
Number of units harvested
Number of units sold
125,000
400,000
80,000
FVLCTD
FVLCTD of produce/ Cost of produce
Inventory at year end
2010
130,000
2011
145,000
2012
2013
2014
75,000
18
2
3
30,000
25,000
85,000
20
3
4
32,000
30,000
60,000
22
4
5
37,000
38,000
13
390,000
13
416,000
13
481,000
5,000
7,000
6,000
450,000
390,000
840,000
600,000
416,000
1,016,000
836,000
481,000
1,317,000
325,000
65,000
325,000
Income Statement
Sales (No. of units sold @ FV)
Gain from change in FV (produce)
Total Revenues
Cost of sales
2012
2013
2014
325,000
75,000
80,000
480,000
390,000
85,000
80,000
555,000
91,000
468,000
559,000
60,000
80,000
699,000
Gross Profit
Less: Operating Expenses
Commission
Transfer tax
Total Expenses
360,000
461,000
618,000
50,000
75,000
125,000
90,000
120,000
210,000
152,000
190,000
342,000
Net Income
235,000
251,000
276,000
Cost of production
Amortization of accumulated bio assets
Total Cost
Consumable
Quantity
3,000
Amount
1,200,000
Price
Cost of disposal
Quantity purchased
January
450
18
750
February
460
21
600
March
465
19
820
January
900
4,950
February
1,000
5,860
March
850
5,117
115
12
119
11
118
10
No. of slaughtered
No. of kilos of produce
Selling price of carcasses/kilo
Cost of slaughtering/kilo
Beginning
Purchases
Slaughtered
Ending
FVLCTD
Agricultural Produce
Beginning
Purchases
Slaughtered
FV due to Price
3,000
750
(900)
2,850
2,850
600
(1,000)
2,450
400
2,450
820
(850)
2,420
432
1,231,200
439
1,075,550
446
1,079,320
509,850
632,880
552,636
1,200,000
324,000
(388,800)
96,000
1,231,200
1,231,200
263,400
(439,000)
19,950
1,075,550
1,075,550
365,720
(379,100)
17,150
1,079,320
Biological Assets
Loss on change in FV due to Price
Cash
Biological Assets-Immature
Gain from Change in FV due to Price
Agricultural Produce
Gain from change in FV due to Physical
Biological Assets
Cash
January
324,000
13,500
February
263,400
12,600
337,500
96,000
March
365,720
15,580
276,000
19,950
96,000
509,850
17,150
19,950
632,880
61,650
388,800
59,400
381,300
17,150
552,636
129,420
439,000
64,460
122,366
379,100
51,170