(b) Separate subdivisions shall be maintained for each issue of receivers certificates.*† 101.212 Advances from associated companies. (a) This account shall include the face value of notes owed to associated companies and the amount of open book accounts representing advances from associated companies. (b) This account shall be subdivided as follows: 212:1 Advances on Notes. 212:2 Advances on Open Accounts.** NOTE A: The records supporting the entries to this account shall be so kept that the utility can furnish complete information concerning each note and open account. NOTE B: Notes and open accounts representing indebtedness subject to current settlement shall be included in Account 223, Payables to Associated Companies. 101.213 Miscellaneous long-term debt. (a) This account shall include until maturity, all long-term debt not otherwise provided for. This covers such items as real estate mortgages, executed or assumed, assessments for public improvements, notes and unsecured certificates of indebtedness not owned by associated companies, receipts outstanding for long-term debt, and other obligations maturing more than one year from date of issue or assumption. (See Balance sheet instruction 3, § 101.1-3.) (b) Separate accounts shall be maintained for each class of obligation, and records shall be maintained to show separately for each class all details as to date of obligation, date of maturity, interest dates and rates, security for the obligation, etc.*† CURRENT AND ACCRUED LIABILITIES 101.220 Notes payable. This account shall include the face value of all notes, drafts, acceptances, or other similar evidences of indebtedness payable on demand or which by their terms are payable within a time not exceeding 1 year from the date of issue to other than associated companies. (See Balance sheet instruction 3, § 101.1–3.)*† 101.221 Notes receivable discounted. This account shall include the face value of notes receivable discounted or sold without releasing the utility from liability as endorser thereon.*† 101.222 Accounts payable. This account shall include all amounts payable by the utility within 1 year, and which are not provided for in other accounts.** 101.223 Payables to associated companies. This account shall include amounts owed to associated companies on notes, drafts, acceptances, or other similar evidences of indebtedness and open accounts payable on demand or not more than 1 year from date of issue or creation. This account shall be subdivided as follows: 223:1 Notes Payable to Associated Companies. 223:2 Accounts Payable to Associated Companies.*+ NOTE: Exclude from this account notes and accounts which are includible in Account 212, Advances from Associated Companies. Page 108 *For statutory citation, see note to § 101.00-1. 101,224 Dividends declared. This account shall include the amount of dividends which have been declared but not paid. Dividends shall be credited to this account when they become a liability.** 101.225 Matured long-term debt. This account shall include the amount of long-term debt (including any obligation for premiums) matured and unpaid, without specific agreement for extension of the time of payment; it shall also include bonds called for redemption but not presented.** 101.226 Matured interest. This account shall include the amount of matured interest on long-term debt or other obligations of the utility at the date of the balance sheet, unless such interest is added to the principal of the debt on which incurred.** 101.227 Customers' deposits. This account shall include all amounts deposited with the utility by customers as security for the payment of bills.*t 101.228 Taxes accrued. (a) This account shall be credited during each accounting period with the amount of taxes accrued during the period, corresponding debits being made to the appropriate accounts for tax charges. Such credits may be based upon estimates, but from time to time during the year as the facts become known, the amount of the periodic credits shall be adjusted so as to include as nearly as can be determined in each year the taxes applicable thereto. Any amount representing a prepayment of taxes applicable to the period subsequent to the date of the balance sheet shall be shown under Account 132, Prepayments. (b) The records supporting the entries to this account shall be so kept that the utility can furnish information as to the amount, by classes, of taxes accrued, the basis for each tax accrual and the accounts to which charged, and the amount, by classes, of taxes paid.*† 101.229 Interest accrued. There shall be reported by this caption the balances included in Accounts 229:1 and 229: 2.*† 101.229: 1 Interest accrued on long-term debt. This account shall include the amount of interest accrued on the long-term debt of the utility, except interest on advances from associated companies. This account shall not include any interest which is added to the principal of the debt on which incurred.** 101.229: 2 Interest accrued on other liabilities. This account shall include the amount of interest accrued on liabilities of the utility other than long-term liabilities. This account shall not include any interest which is added to the principal of the debt on which incurred.*t 101.230 Other current and accrued liabilities. This account shall include the current and accrued liabilities not provided for elsewhere.*t DEFERRED CREDITS 101.240 Unamortized premium on debt. This caption shall include the total of the credit balances of the discount, expense, and premium accounts, for all classes of long-term debt, including receivers' certificates. (See Balance sheet instruction 6, § 101.1-6.)*† *For statutory citation, see note to § 101.00-1. Page 109 101.241 Customers' advances for construction. This account shall include such advances by customers for construction as are to be refunded either wholly or in part. When a customer is refunded the entire amount to which he is entitled, according to the agreement or rule under which the advance was made, the balance, if any, remaining in the account shall be transferred to Account 265, Contributions in Aid of Construction.*† 101.242 Other deferred credits. This account shall include advanced billings and receipts and other deferred credit items, not provided for elsewhere; also amounts which cannot be entirely cleared or disposed of until additional information has been received or which should be credited to income or to surplus accounts in the future.*t RESERVES 101.250 Reserve for depreciation of electric plant. (a) This account shall be credited with the following: (1) Amounts charged to Account 503, Depreciation, to Account 508, Income from Electric Plant Leased to Others, to clearing accounts or to income or other accounts for currently accruing depreciation. (2) Amounts charged to Account 414, Miscellaneous Debits to Surplus, for past accrued depreciation. (3) Amounts of depreciation applicable to electric properties acquired as operating units or systems. (See Electric plant instruction 4, § 101.3-4.) (4) Amounts chargeable upon approval of the Commission to Account 141, Extraordinary Property Losses. (5) Amounts of depreciation applicable to electric plant donated to the utility. (b) At the time of retirement of depreciable electric plant in service, this account shall be charged with the book cost of the property retired and the cost of removal, and shall be credited with the salvage value and any other amounts recovered, such as insurance. (c) For balance sheet purposes, this account shall be regarded and treated as a single composite reserve. For purposes of analysis, however, each utility shall maintain records in which the depreciation reserve shall be segregated according to the following functional classification of electric plant: (1) Steam production, (2) hydroproduction, (3) internal-combustion-engine production, (4) transmission, (5) distribution, and (6) general. The credits and debits to the reserve shall be so made as to show separately the amount of the accrual for depreciation, the book cost of property retired, cost of removal, salvage, and other items, including recoveries from insurance. (d) When transfers of property are made from one utility plant account to another or from or to nonutility property, the accounting shall be as provided in Electric plant instruction 14 (§ 101.3-14). (e) This account shall be subdivided as follows: 250:1 Reserve for Depreciation of Electric Plant in Service. 250:2 Reserve for Depreciation of Electric Plant Leased to Others. Page 110 *For statutory citation, see note to § 101.00-1. 250:3 Reserve for Depreciation of Electric Plant Held for Future Use.*† 101.251 Reserve for amortization of limited-term electric investments. (a) This account shall be concurrently credited with amounts charged to Account 504, Amortization of Limited-Term Electric Investments, or, when appropriate, amounts charged to Account 508, Income from Electric Plant Leased to Others. (b) This account shall also be credited with such amounts as are necessary to reflect, as of the effective date of this system of accounts, the expired portion of the life of franchises, licenses, patent rights, and limited-term interests in land and land rights, or other intangible electric property which has a terminable life, the cost of which is included in electric plant. To the extent that provision has not previously been made for amortization of limited-term electric investments, amounts credited to this reserve shall be concurrently debited to Account 414, Miscellaneous Debits to Surplus. (c) When any franchise, license, patent right, limited-term interest in land or land right expires, is sold, relinquished, or otherwise retired from service, this account shall be charged with the amount previously credited in respect to such property. The book cost of the property so retired less the amount chargeable to this account and less the proceeds realized at retirement shall be included in the appropriate surplus account. (d) Records shall be maintained so as to show separately the balance applicable to each item of intangible property which is being amortized. (e) This account shall be subdivided as follows: 251:1 Reserve for Amortization of Limited-Term Electric Investments-Electric Plant in Service. 251:2 Reserve for Amortization of Limited-Term Electric Investments-Electric Plant Leased to Others. 251:3 Reserve for Amortization of Limited-Term Electric Investments-Electric Plant Held for Future Use.** 101.252 Reserve for amortization of electric plant acquisition adjustments. This account shall be credited or debited with amounts which the Commission may approve or direct the utility to charge or credit to Account 505, Amortization of Electric Plant Acquisition Adjustments, to Account 537, Miscellaneous Amortization, or to Surplus, for the purpose of providing for the extinguishment of amounts in account 100:5, Electric Plant Acquisition Adjustments.** 101.253 Reserve for depreciation and amortization of other property. This account shall include the depreciation and amortization reserves applicable to property other than the electric plant of the utility.** 101.254 Reserve for uncollectible accounts. (a) This account shall be credited each month with amounts reserved for losses on accounts receivable which may become uncollectible, and also with collections on accounts previously charged hereto. Concurrent charges shall be made to Account 783, Uncollectible Accounts, for amounts *For statutory citation, see note to § 101.00-1. Page 111 applicable to electric operations, and to corresponding accounts for other operations. (b) This account shall be subdivided as follows: 254:1 Utility Customers. 254:2 Merchandising, Jobbing, and Contract Work. 254:3 Associated Companies. 254:4 Officers and Employees. 254:5 Other.** NOTE: Accretions to this reserve shall not be made in excess of a reasonable provision against losses of the character provided for. 101.255 Insurance reserve. (a) (a) This account shall include amounts reserved by the utility for self-insurance against losses through accident, fire, flood, or other hazards to its own property or property leased from others. The amounts charged to Account 798, Insurance, or other appropriate accounts to cover such risks shall be credited to this account. A schedule of risks covered by this reserve shall be maintained, giving a description of the property involved, the character of the risks covered and the rates used. (b) Charges shall be made to this account for losses covered by self-insurance.** NOTE: Accretions to this reserve shall not be made in excess of a reasonable provision against losses of the character provided for. 101.256 Injuries and damages reserve. (a) This account shall be credited with amounts charged to Account 799, Injuries and Damages, or other appropriate accounts, to meet the probable liability, not covered by insurance, for deaths or injuries to employees and others, and for damages to property not owned or held under lease by the utility. (b) When liability for any injury or damage is admitted by the utility, either voluntarily or because of the decision of a court or other lawful authority, such as a workmen's compensation board, the admitted liability shall be charged to this account and credited to the appropriate liability account.*f NOTE A: Recoveries or reimbursements for losses charged to this account shall be credited hereto; the cost of repairs to property of others, if provided for herein, shall be charged to this account. NOTE B: Accretions to this reserve shall not be made in excess of a reasonable provision against losses of the character provided for. 101.257 Employees' provident reserve. (a) This account shall include provision which has been made by operating expense charges, or by specific appropriations of income or surplus, and by amounts contributed by employees (whether carried in special funds or in the general funds of the utility) for pensions, accident and death benefits, savings, relief, hospital, and other provident purposes. (b) This account shall include also the amount accrued for pensions through charges to Account 800, Employees' Welfare Expenses and Pensions. Amounts so credited shall, when actually paid to retired employees or paid into a trust fund irrevocably devoted to the payment of pensions, be charged hereto. (c) Separate accounts shall be kept for each kind of reserve included herein.** Page 112 *For statutory citation, see note to § 101.00-1. |