Jan-01 Biological Assets 500,000

Cash 500,000
Acquire 100 cows at 5,000 each.

Jul-01 Biological Assets 54,000

Cash 54,000
Acquire 10 cows at 5,400 each.

Jan-01 Biological Assets 35,000

Gain From Biological Asset 35,000
To record the birth of 10 cowsat 3,500 each.

Dec-31 Biological Assets 111,000

Gain From Biological Asset 111,000
To record the change in FV of cows and calves.