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Transcription
r 29 1990 wlos* Angeles, Calif, , sc;-’ 1Y 15 Mr, W. R. Bracken: Referring to your letter of September 15, 1930, No, W-23-1-7, advising that 8$ of the appraised value of $650.00 covering pipe line acquired from Parkview Mutual Water Company should be written off annually to provide actual depreciation thereof: 4 Mr, Adamson advises that the pipe line was constructed in 1924 at an approximate cost of $1300,00, It is estimated that the life of th^line would be approximately 12 years and under these conditions depreciation would be ample at 8$ annually; however, the line ms capitalized at $650.00 upon the supposition that it would require replacement in six or seven years; therefore, based upon a value of $650,00 and complete retirement on account of obsolescence in approximately six years, the depreciation would be 16$ annually. Please review this situation and advise if you concur in Mr, Adamson's recommendation.
