WILL RATE:

Exercise 11-21 Buffalo Company owns a 7,800-acre tract of timber purchased in 2006 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. Buffalo Company has not logged this tract since it was purchased. In 2020, Buffalo had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,480 board feet of timber. In 2020, Buffalo built 10 miles of roads at a cost of $8,310 per mile. After the roads were completed, Buffalo logged and sold 3,710 trees containing 905,000 board feet. Determine the cost of timber sold related to depletion for 2020. (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 solds LINK TO TEXT If Buffalo depreciates the logging roads on the basis of timber cut, determine the depreciation expense for 2020. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to o decimal places, e.g. 5,125.) Depreciation expenses LINK TO TEXT If Buffalo plants five seedlings at a cost of $4 per seedling for each tree cut, how should Buffalo treat the reforestation? Buffalo should the cost of Click if you would like to Show Work for this question: Open Show Work