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Business, 27.03.2021 01:00 AndiLizzi

Bramble Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,596 per acre. At the time of purchase, the land without the timber was valued at $456 per acre. In 2010, Bramble built fire lanes and roads, with a life of 30 years, at a cost of $95,760. Every year, Bramble sprays to prevent disease at a cost of $3,420 per year and spends $7,980 to maintain the fire lanes and roads. During 2011, Bramble selectively logged and sold 798,000 board feet of timber of the estimated 3,990,000 board feet. In 2012, Bramble planted new seedlings to replace the trees cut at a cost of $114,000. 1. Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round intermediate calculations to 5 decimal places, s. 1.54687 and final answers to decimal places, eg. 5,125.)2. Bramble has not logged since 2011. If Bramble logged and sold 1,026,000 board feet of timber in 2019, when the timber cruise (appraiser) estimated 5,700,000 board feet, determine the cost of timber sold related to depletion for 2022. (Round intermediate calculations to s decimal places, e-8. 1.54687 and final answers to o decimal places, e s. 5,125.)

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Bramble Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,596 per acre. At th...

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