17xxxx: Investment in Plant and Equipment

I. General

Duke University capitalizes acquisitions that meet both these criteria:

• Costs $5,000 or more ($1.00 in case of library books, manuscripts, etc.)
• Have an economic life exceeding two years

For further explanation of the capitalization policy refer to GAP 200.050, Plant & Equipment Capitalization.

Duke University departments do not use this series of G/L accounts when making purchases but instead use an appropriate 66xxxx G/L account. Plant Accounting is responsible for ensuring the proper 66xxxx G/L account is used and "closing out" the 66xxxx G/L accounts to the appropriate 17xxxx account at fiscal year end.