101.133 Other current and accrued assets. (a) This account shall include current and accrued assets of the general nature defined in Accounts 120 to 132, inclusive, but not properly includible in any of those accounts.

(b) The records supporting the entries to this account shall be so kept as to show the nature of each class of assets included herein.*†

DEFERRED DEBITS

101.140 Unamortized debt discount and expense. This caption shall include the total of the debit balances, of those accounts having debit balances, of the discount, expense, and premium accounts, for all classes of long-term debt. (See Balance sheet instruction 6, § 101.1–6.)*†

101.141 Extraordinary property losses. (a) This account shall include, when so authorized or directed by the Commission, losses in service value of property abandoned or otherwise retired from service which are not provided for by the depreciation or other reserves and which could not reasonably have been foreseen and provided for. It shall include also, when so authorized or directed by the Commission, extraordinary losses, such as unforeseen damages to property which could not reasonably have been anticipated and which are not covered by reserves or by insurance.

(b) The entire loss in service value of depreciable property retired shall be charged to the depreciation reserve. If all, or a portion, of the loss in service value is to be included in this account, the depreciation reserve shall then be credited and this account charged with the amount properly chargeable hereto.

(c) This account shall be so maintained that convenient itemization may be made of all amounts included herein.

(d) Before making any entries in this account, the utility shall obtain the approval of the Commission. Application for permission to use the account shall be accompanied by a statement or statements giving a complete explanation of the nature and cause of the property loss together with a description of the property, its location, the original cost thereof, classified in accordance with the prescribed electric plant accounts, the cost to the utility, the amount of waterpower value or other intangible value carried in the accounts with respect to such property, the amount at which the property is retired or to be retired, the amount, if any, chargeable to the depreciation or other reserves (showing cost thus chargeable, salvage, and cost of removal), the amount it is proposed to include in this account, the period over which and the accounts to which it is proposed to write off the loss, and a copy of any statement or statements made or planned to be made to a trustee under a mortgage or other indenture with respect to the property.**

101.142 Preliminary survey and investigation charges. (a) This account shall be charged with all expenditures for preliminary surveys, plans, investigations, etc., made for the purpose of determining the feasibility of projects under contemplation. If construction results, this account shall be credited and the appropriate

*For statutory citation, see note to § 101.00-1.

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electric plant account charged. If the work is abandoned, the charge shall be to Account 538, Miscellaneous Income Deductions, or Account 414, Miscellaneous Debits to Surplus, unless otherwise authorized or directed by the Commission.

(b) The records supporting the entries to this account shall be so kept that the utility can furnish complete information as to the nature and the purpose of the survey, plans or investigations, and the nature and respective amounts of the charges.*†

NOTE: The amount of preliminary survey and investigation charges transferred to electric plant shall not exceed the expenditures which may reasonably be determined to contribute directly and immediately and without duplication to electric plant.

101.143 Clearing accounts. This caption shall include undistributed balances in clearing accounts (see Accounts 901 to 905) at the date of the balance sheet. Balances in clearing accounts shall be substantially cleared not later than the end of the calendar year unless items held therein relate to a future period.*†

101.144 Retirement work in progress. This account shall include the total of the balances of work orders for the retirement of electric plant. The amount credited to electric plant shall be charged to this account at the date the property is retired from electric service, and the cost of removal shall be charged to the account as incurred. Credits for salvage and insurance recovered shall be made to this account. Each work order shall be closed to Account 250, Reserve for Depreciation of Electric Plant, upon completion of the removal, in such a manner as to record separately in the reserve the original cost of plant retired, the cost of removal, and the salvage or insurance recovered.**

101.145 Other work in progress. This account shall include the total of the balances in open work or job orders for work in progress, other than that covered by Accounts 100:3, Construction Work in Progress; 108, Other Utility Property; and 144, Retirement Work in Progress.**

101.146 Other deferred debits. (a) This account shall include all debits, not elsewhere provided for, the proper final disposition of which is uncertain, and unusual or extraordinary expenses, not included in other accounts, which are in process of amortization.

(b) The records supporting the entries to this account shall be so kept that the utility can furnish full information as to each deferred debit included herein.*†

CAPITAL STOCK DISCOUNT AND EXPENSE

101.150 Discount on capital stock. (a) There shall be reported by this caption all balances in the accounts for discount on capital stock.

(b) The accounts hereunder shall be kept in such manner as to show separately the discount on each class and series of capital stock. (See Balance sheet instruction 5, § 101.1-5.)

(c) The utility may amortize the balance carried in this account by charges to Account 414, Miscellaneous Debits to Surplus.*†

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*For statutory citation, see note to § 101.00-1.

101.151 Capital stock expense. (a) This account shall include all expenses incurred in connection with the issuance and sale of capital stock which are not properly chargeable to electric plant Account 301, Organization, and which have not been charged to Account 414, Miscellaneous Debits to Surplus.

(b) When any issue of capital stock, or portion thereof, has been retired, there shall be credited to this account the balance herein in respect of such retired stock. (See Balance sheet instruction 5, § 101.1-5.)

(c) The utility may amortize the balance carried in this account by charges to Account 414, Miscellaneous Debits to Surplus.*†

NOTE: There shall not be included in this account expenses in connection with the reacquisition or resale of the utility's capital stock.

REACQUIRED SECURITIES

101.152 Reacquired capital stock. (a) This account shall include the par value of capital stock actually issued by the utility and reacquired by it and not retired or canceled, except, however, stock which is held by trustees in sinking or other funds. Stock without par value shall be included in this account at the proportionate amount at which the particular class and series of stock is included in Account 200, Common Capital Stock, or Account 201, Preferred Capital Stock.

(b) The difference between the amount at which capital stock is included in this account and the amount paid by the utility for such stock, including commissions and expenses paid in connection with the reacquisition, shall be debited or credited at the time of acquisition, to Account 270, Capital Surplus, provided, however, that debits shall be charged to Account 414, Miscellaneous Debits to Surplus, if the amounts thereof exceed the balance in Capital Surplus; and provided further, that in no event shall debits in excess of accumulated credits from the reacquirement and sale of reacquired capital stock be charged to Capital Surplus.

(c) When reacquired capital stock is resold by the utility, the par value (or amount included in this account for stock without par value) of the stock resold shall be credited to this account and the difference between such amount and the amount received by the utility from the resale, less commissions and expenses incurred in the resale, shall be accounted for as outlined in paragraph (b).

(d) This account shall be maintained or supported in such manner as to show the amount herein applicable to each class and series of stock.*t

101.153 Reacquired long-term debt. (a) This account shall include the par or face value of bonds or other long-term debt actually issued or assumed by the utility and reacquired by it and held under conditions which do not permit the utility to treat such securities as paid, retired, or canceled, but which permit the resale of the securities. It shall not include securities which are held by trustees in sinking or other funds.

(b) When the securities are reacquired, the difference between par or face value, adjusted for unamortized discount, expense, or pre

*For statutory citation, see note to § 101.00-1.

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mium, and the amount paid upon reacquisition, shall be debited or credited, as appropriate, to Accounts 414, Miscellaneous Debits to Surplus, or 401, Miscellaneous Credits to Surplus. (See Balance sheet instruction 6, § 101.1-6.)

(c) This account shall be maintained or supported in such manner as to show the amount herein applicable to each class and series of long-term debt.**

LIABILITIES AND OTHER CREDITS

CAPITAL STOCK

101.200 Common capital stock. (See § 101.201.) *†

101.201 Preferred capital stock. (a) These accounts shall include the par value, the stated value of stock without par value if such stock has a stated value, and if not, the cash value of the consideration received for such nonpar stock, of each class of capital stock actually issued and actually outstanding, and also the capital stock in Account 152, Reacquired Capital Stock.

(b) When the actual cash value of the consideration received is more or less than the par or stated value of any stock having a par or stated value, the difference shall be credited or debited, as the case may be, to the discount or premium account for the particular class and series.

(c) When capital stock is retired and canceled, these accounts shall be charged with the amount at which such stock is carried

herein.

(d) A separate ledger account, with a descriptive title, shall be maintained for each class and series of stock. The supporting records shall show the shares nominally issued, actually issued, and nominally outstanding.*†

NOTE: When a levy or assessment, except a call for payment on subscriptions, is made against holders of capital stock, the amount collected upon such levy or assessment shall be credited to Account 203, Premiums and Assessments on Capital Stock.

101.202 Stock liability for conversion. (a) This account shall include the par value, the stated value of stock without par value if such stock have a stated value, and if not, the cash value of the consideration for such nonpar stock, of capital stock which the utility has agreed to exchange for outstanding securities of other companies in connection with the acquisition of properties of such companies under terms which allow the holders of the securities of the other companies to surrender such securities and receive in return therefor capital stock of the accounting utility.

(b) When the securities of the other companies have been surrendered, this account shall be charged and Account 200, Common Capital Stock, or Account 201, Preferred Capital Stock, as the case may be, shall be credited.

(c) The records shall be so kept as to show separately the stocks of different classes and series for which liability may exist.**

101.203 Premiums and assessments on capital stock. (a) This account shall include the excess of actual cash value of the consider

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*For statutory citation, see note to § 101.00-1.

ation received over the par or stated value and accrued dividends, of stock issued, together with assessments against stockholders representing payments required in excess of par or stated values.

(b) A separate account shall be maintained for premiums and assessments on each class and series of stock.

(c) When capital stock is retired and canceled, the amount in this account with respect to the shares of such stock retired and canceled shall be debited hereto. (See Balance sheet instruction 5, § 101.1-5.)*+

101.204 Capital stock subscribed. (a) This account shall include the amount of legally enforceable subscriptions to capital stock of the utility. It shall be credited with the par or stated value, or with the subscription price, in the case of stock without par or stated value, exclusive of accrued dividends, if any. Concurrently, a debit shall be made to Account 127, Subscriptions to Capital Stock, for the agreed price and any discount or premium shall be debited or credited to the appropriate discount or premium account. When properly executed stock certificates have been issued representing the shares subscribed, this account shall be debited and Account 200, Common Capital Stock, or Account 201, Preferred Capital Stock, shall be credited with the par or stated value of such stock.

(b) The records shall be kept in such manner as to show the amount of subscriptions to each class and series of stock.*†

101.205 Installments received on capital stock. (a) This account shall include the amount of installments received on capital stock on a partial or installment payment plan from subscribers who are not bound by a legally enforceable subscription contract.

(b) As subscriptions are paid in full and certificates issued, this account shall be charged and Account 200, Common Capital Stock, Account 201, Preferred Capital Stock, or Account 152, Reacquired Capital Stock, as appropriate, credited with the par or stated value of such stock. Any discount or premium on the original issues shall be included in the appropriate discount or premium account.

(c) The records shall be kept in such manner as to show the amount of installments received on each class and series of stock.**

LONG-TERM DEBT

101.210 Bonds. (a) This account shall include the face value of the actually issued and unmatured bonds, which have not been retired or canceled; also the face value of such bonds issued by others the payment of which has been assumed by the utility.

(b) This account shall be so kept or supported as to show the face value of (1) nominally issued bonds, (2) nominally outstanding bonds, and (3) actually outstanding bonds of each class and series.*†

NOTE A: For instructions relative to accounting for discount, expense, and premium on long-term debt, see Balance sheet instruction 6 (§ 101.1-6).

NOTE B: Matured long-term debt shall be included in Account 225, Matured Long-Term Debt.

101.211 Receivers' certificates. (a) This account shall include the face value of certificates of indebtedness issued by receivers in possession of the property and acting under the orders of a court.

*For statutory citation, see note to § 101.00-1.

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