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Dub Dairy Produces Milk to Sell to Local and National

Question 34

Multiple Choice

Dub Dairy produces milk to sell to local and national ice cream producers.Dub Dairy began operations on January 1, 2011 by purchasing 840 milk cows for $1,176,000.The company controller had the following information available at year end relating to the cows: Dub Dairy produces milk to sell to local and national ice cream producers.Dub Dairy began operations on January 1, 2011 by purchasing 840 milk cows for $1,176,000.The company controller had the following information available at year end relating to the cows: On Dub Dairy's income statement for the year ending December 31, 2011, what amount of unrealized gain on biological assets will be reported? A) $ -0- B) $365,000 C) $323,000 D) $54,600 On Dub Dairy's income statement for the year ending December 31, 2011, what amount of unrealized gain on biological assets will be reported?


A) $ -0-
B) $365,000
C) $323,000
D) $54,600

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