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- ASSET RETIREMENT OBLIGATION

12 Months Ended

Dec. 31, 2011

NOTE 11 – ASSET RETIREMENT OBLIGATION

The following table summarizes the changes in America West’s asset retirement obligation for the years ended December 31, 2011 and 2010.


		2011		2010
Asset retirement obligation, January 1	$	134,969	$	157,048
Accretion expense		78,251		15,705
Revisions in accounting estimate		-		(37,784)
Asset retirement obligation, December 31	$	213,220	$	134,969

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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