Business, 21.09.2019 01:10 CHEVYWADDELL

Calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2018, at a cost of $10,000,000. calaf is legally required to dismantle and remove the platform at the end of its useful life in 10 years. calaf estimates it will cost $1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years. (the fair value at january 1, 2018, of the dismantle and removal costs is $450,000.) prepare the entry to record the asset retirement obligation. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when amount is entered. do not indent manually.)

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Calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2018, at a c...

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