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Exercise 11-19 Sunland Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,582 per acre. At the time of purchase, the
Exercise 11-19 Sunland Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,582 per acre. At the time of purchase, the land without the timber was valued at $452 per acre. In 2010, Sunland built fire lanes and roads, with a life of 30 years, at a cost of $94,920. Every year, Sunland sprays to prevent disease at a cost of $3,390 per year and spends e fire lanes and roads. During 2011, Sunland selectively logged and sold 791,000 board feet of timber, of the estimated 3,955,000 board feet. In 2012, Sunland planted new seedlings to replace the trees cut at a cost of $113,000 Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round intermediate calculations to 5 decimal places, e.g. 1.54687 and final answers to o decimal places, e.g. 5,125.) Depreciation expenses Cost of timber sold $ LINK TO TEXT LINK TO VIDEO Sunland has not logged since 2011. If Sunland logged and sold 1,017,000 board feet of timber in 2019, when the timber cruise (appraiser) estimated 5,650,000 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 o decimal places, e.g. 5,125.) Cost of timber sold
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