Support equipment used to drill a development well cost $13,000 and has a 10-year life with a
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Support equipment used to drill a development well cost $13,000 and has a 10-year life with a salvage value of $1,000. The equipment was used for three months in drilling Badger #1. Record depreciation. Ignore the wells-in-progress account and use the appropriate final account.
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Related Book For
Fundamentals Of Oil And Gas Accounting
ISBN: 9781593701376
5th Edition
Authors: Charlotte J. Wright, Rebecca A. Gallun
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