Question 8 of 10 < > 0.5/1 E ! Blossom Company owns 9,000 acres of timberland...

Transcribed Image Text:

Question 8 of 10 < > 0.5/1 E ! Blossom Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,722 per acre. At the time of purchase, the land without the timber was valued at $492 per acre. In 2010, Blossom built fire lanes and roads, with a life of 30 years, at a cost of $103,320. Every year, Blossom sprays to prevent disease at a cost of $3,690 per year and spends $8,610 to maintain the fire lanes and roads. During 2011, Blossom selectively logged and sold 861,000 board feet of timber, of the estimated 4,305,000 board feet. In 2012, Blossom planted new seedlings to replace the trees cut at a cost of $123,000. (a) Your answer is correct. Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round the final answers to O decimal places, e.g. 5,125.) Depreciation expense $ 3444 Cost of timber sold $ 2214000 eTextbook and Media Attempts: 2 of 4 used Question 8 of 10 < > 0.5/1 E ! Blossom Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,722 per acre. At the time of purchase, the land without the timber was valued at $492 per acre. In 2010, Blossom built fire lanes and roads, with a life of 30 years, at a cost of $103,320. Every year, Blossom sprays to prevent disease at a cost of $3,690 per year and spends $8,610 to maintain the fire lanes and roads. During 2011, Blossom selectively logged and sold 861,000 board feet of timber, of the estimated 4,305,000 board feet. In 2012, Blossom planted new seedlings to replace the trees cut at a cost of $123,000. (a) Your answer is correct. Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round the final answers to O decimal places, e.g. 5,125.) Depreciation expense $ 3444 Cost of timber sold $ 2214000 eTextbook and Media Attempts: 2 of 4 used