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Problem - Forda Lumber Company owns a 7,000-acre tract of timber purchased in 2007 at a cost of $1,300 per acre. At the time of purchase, the land was estimated to have a value of $300 per acre without the timber. Forda Lumber Company has not logged this tract since it was purchased. In 2014, Forda had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,000 board feet of timber. In 2014, Forda built 10 miles of roads at a cost of $7,840 per mile. After the roads were completed, Forda logged and sold 3,500 trees containing 850,000 board feet.
Determine the cost of timber sold related to depletion for 2014.
If Forda depreciates the logging roads on the basis of timber cut, determine the depreciation expense for 2014.
If Forda plants five seedlings at a cost of $4 per seedling for each tree cut, how should Forda treat the reforestation?
At the market close on February 19, 2010, McDonald's Corporation had a closing stock price of $64.74. In addition, McDonald's Corporation had a dividend per share of $2.05 over the previous year.
What is the forward price of your contract? Suppose both the 1-year and 11-year spot rates unexpectedly shift downward by 2 percent. What is the price of a forward contract otherwise identical to yours?
you are the accountant for a division of a company that is constructing a building for its own use. it is january 2011
Should Devers's knowledge of the compensation plan be a factor that influences her estimate? How should Devers respond to Adkins's request?
Kelly's Boutique has several questions Kelly is planning for the future and would like you to prepare a present value analysis. Using the file ch7-04 complete a present value analysis for the following situations. Save the file as ch7-04_student_nam..
Assuming there are 394 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method
cardwell corporation manufactures a variety of products. last year the companys variable costing net operating income
Work-in-process inventory was $12,000 at January 1 and $15,500at December 31. Compute cost of goods manufactured.
Using the installment-sales method, make summary entries to record: (a) the installment sales and cash collections; (b) the cost of installment sales; (c) the unrealized gross profit; (d) the realized gross profit.
Calculate the increase in company profits if Glenn Company accepts the outside suppliers offer.
What is a "pass-through" agency-fund and under what conditions is it appropriate to use such a fund?
dixon corporation is acquiring martin corporation in a type a reorganization by exchanging 40 of its voting stock and
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