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Whispering Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,554 per acre. At the time of purchase, the land without
Whispering Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,554 per acre. At the time of purchase, the land without the timber was valued at $444 per acre. In 2010, Whispering built fire lanes and roads, with a life of 30 years, at a cost of $93,240. Every year, Whispering sprays to prevent disease at a cost of $3,330 per year and spends $7,770 to maintain the fire lanes and roads. During 2011, Whispering selectively logged and sold 777,000 board feet of timber, of the estimated 3,885,000 board feet. In 2012, Whispering planted new seedlings to replace the trees cut at a cost of $111,000. (a) Your Answer Correct Answer Your answer is partially 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.) Depreciation expense $ 3,108 Cost of timber sold $ 16,183,800 e Textbook and Media Solution Attempts: 5 of 5 used (b) X Your answer is incorrect. Whispering has not logged since 2011. If Whispering logged and sold 999,000 board feet of timber in 2019, when the timber cruise (appraiser) estimated 5,550,000 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 $ 14,585,400
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