I. GENERAL
Plant and equipment refers to tangible property that has an estimated life of at least two years. If the cost of an item is $5,000 or more, it is capital property and should be charged to this series of G/L accounts.
If the item has an estimated life of at least two years, but costs less than $5,000, charge a G/L account in the 67xxxx, Plant and Equipment - Minor Acquisitions series.
For further information on Duke's capitalization policy, refer to GAP 200.050, Plant & Equipment Capitalization. Any further questions should be directed to the Director of Plant Accounting.