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Martinez Company owns a 7,140-acre tract of timber purchased in 2003 at a cost of...

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Accounting

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Martinez Company owns a 7,140-acre tract of timber purchased in 2003 at a cost of $1,326 per acre. At the time of purchase, the land was estimated to have a value of $306 per acre without the timber. Martinez Company has not logged this tract since it was purchased. In 2017, Martinez had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,160 board feet of timber. In 2017, Martinez built 10 miles of roads at a cost of $7,997 per mile. After the roads were completed, Martinez logged and sold 3,570 trees containing 867,000 board feet. Determine the cost of timber sold related to depletion for 2017. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to O decimal places, e.g. 5,125.) Cost of timber sold s If Martinez 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 s LINK TO TEXT If Martinez plants five seedlings at a cost of $4 per seedling for each tree cut, how should Martinez treat the reforestation? Martinez should the cost of LINK TO TEX

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