Journalizing transactions.

ata related to the acquisition of timber nghts and imangple assets ouring the current yeor ended December 31 are as fobows: a. Timber rights on a tract of land were purchased for $1,600,000 on February 22 . The sland of timber as estimated at 5,000,000 board feet Durng the cusient year, 1,100,000 board feet of imber wete cut and sold b. On December 31 , the company determined that $3,750,000 of 9009wl was impared Amortazibion is to be for three-fourths of a year Required: 1. Doformine the amount of the amortcation, depletion, or impanment for the cument year for each of the foregoing thems Instructions 1. Determine the amount of the amortization, depletion, or impaiment for the current year for each of the ffems in the instructions. a b c. board fier of bmeer weve cut and wolt D On December 31 , the campany defermined that $3950,000 of eoochail was impared nos I a year: year