Marigold Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,456 per acre. At the time of purchase, the land without the timber was valued at $416 per acre. In 2010, Marigold built fire lanes and roads, with a life of 30 years, at a c
Marigold Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,456 per acre. At the time of purchase, the land without the timber was valued at $416 per acre. In 2010, Marigold built fire lanes and roads, with a life of 30 years, at a cost of $87,360. Every year, Marigold sprays to prevent disease at a cost of $3,120 per year and spends $7,280 to maintain the fire lanes and roads. During 2011, Marigold selectively logged and sold 728,000 board feet of timber, of the estimated 3,640,000 board feet. In 2012, Marigold planted new seedlings to replace the trees cut at a cost of $104,000.
Your answer is correct. Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round the final answers to 0 decimal places, e.g. 5,125.) $ $ Attempts: 2 of 4 used Your answer is incorrect. Marigold has not logged since 2011. If Marigold logged and sold 936,000 board feet of timber in 2022, when the timber cruise (appraiser) estimated 5,200,000 board feet, determine the cost of timber sold related to depletion for 2022. (Round intermediate calculations to 5 decimal places, e.g. 1.54687 and final answers to 0 decimal places, e.g. 5,125.) $ (a)
Depreciation expense Cost of timber sold eTextbook and Media
(b)
Cost of timber sold
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Marigold Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,456 per acre. At the time of purchase, the land without the timber was valued at $416 per acre. In 2010, Marigold built fire lanes and roads, with a life of 30 years, at a c
Bonita Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,526 per...
Bonita Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,526 per acre. At the time of purchase, the land without the timber was valued at $436 per acre. In 2010, Bonita built fire lanes and roads, with a life of 30 years, at a cost of $91,560. Every year, Bonitasprays to prevent disease at a cost of $3,270 per year and spends $7,630 to maintain the fire lanes and roads. During 2011, Bonita selectively logged...
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owns 9,000 acres of timberland purchased in E11-19 (L04) (Depletion Computations-Timber) Stanislaw Timber Company 2006 at...
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Stellar Company owns a 7,500-acre tract of timber purchased in 2006 at a cost of $1,339...
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Grouper Company owns a 7,700-acre tract of timber purchased in 2006 at a cost of $1,404...
Grouper Company owns a 7,700-acre tract of timber purchased in
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land was estimated to have a value of $324 per acre without the
timber. Grouper Company has not logged this tract since it was
purchased. In 2020, Grouper had the timber cruised. The cruise
(appraiser) estimated that each acre contained 8,640 board feet of
timber. In 2020, Grouper built 10 miles of roads at a cost...
Exercise 11-21 Ivanhoe Company owns a 7,770-acre tract of timber purchased in 2003 at a cost...
Exercise 11-21 Ivanhoe Company owns a 7,770-acre tract of timber purchased in 2003 at a cost of $1,443 per acre. At the time of purchase, the land was estimated to have a value of $333 per acre without the timber. Ivanhoe Company has not logged this tract since it was purchased. In 2017, Ivanhoe had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,880 board feet of timber. In 2017, Ivanhoe built 10 miles of roads at...
owns 9,000 acres of purchased in 2006 at a cost of $1,638 per acre. At the time of purchase, the land without the timber was valued at $468 per acre. In 2007, Pharoah built fire lanes and roads, with a life of 30 years, at a cost of $98,280. Every year, Pharoah sprays to prevent disease at a cost of $3,510 per year and spends $8,190 to maintain the fire lanes and roads. During 2008, Pharoah selectively logged and sold...
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Question 2 of 9 0.5/1 E View Policies Show Attempt History Current Attempt in Progress Bonita Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,526 per acre. At the time of purchase, the land without the timber was valued at $436 per acre. In 2010, Bonita built fire lanes and roads, with a life of 30 years, at a cost of $91,560. Every year, Bonita sprays to prevent disease at a cost of $3,270 per...
Larkspur Company owns a 7,000-acre tract of timber purchased in 2006 at a cost of $1,417 per acre. At the time of purchase, the land was estimated to have a value of $317 per acre without the timber. Larkspur Company has not logged this tract since it was purchased. In 2020, Larkspur had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,720 board feet of timber. In 2020, Larkspur built 10 miles of roads at a cost...
Grouper Company owns a 7,700-acre tract of timber purchased in
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land was estimated to have a value of $324 per acre without the
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