Exercise 11-21 Windsor Company owns a 7,420-acre tract of timber purchased in 2003 at a...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Exercise 11-21 Windsor Company owns a 7,420-acre tract of timber purchased in 2003 at a cost of $1,378 per acre. At the time of purchase, the land was estimated to have a value of $318 per acre without the timber. Windsor Company has not logged this tract since it was purchased. In 2017, Windsor had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,480 board feet of timber. In 2017, Windsor built 10 miles of roads at a cost of $8,310 per mile. After the roads were completed, Windsor logged and sold 3,710 trees containing 901,000 board feet. Determine the cost of timber sold related to depletion places, e.g. 5,125.) for 2017. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to O decimal Cost of timber sold If Windsor depreciates the logging roads on the basis of timber cut, determine the depreciation expense for 2017. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to o decimal places, e.g. 5,125.) Depreciation expense If Windsor plants five seedlings at a cost of $4 per seedling for each tree cut, how should Windsor treat the reforestation? 1 Windsor should the cost of Click if you would like to Show Work for this question: Open Show Work
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
