cost of each kind of property, from whom it was acquired, its location, and its use.** 101.111 Investments in associated companies. There shall be reported by this caption the amounts included in Accounts 111:1 and 111:2.*† 101.111:1 Investments in securities of associated companies. (a) This account shall include the book cost of the utility's investment in securities issued or assumed by associated companies and held as permanent or long-term investments. (b) The account shall be maintained in such manner as to show each class of investment in each associated company."† NOTE: Securities of associated companies owned and pledged shall be included in this account, but such securities if held in special deposits or in special funds shall be included in the appropriate deposit or fund account. A complete record of securities pledged shall be maintained. 101.111:2 Advances to associated companies. (a) This account shall include the amount of investment advances to associated companies and interest accrued on such advances when such interest is not subject to current settlement. (See Account 126, Receivables from Associated Companies.) (b) The account shall be maintained in such manner as to show the advances to each associated company.*† NOTE A: Balances in open accounts with associated companies which are subject to current settlement shall be excluded from this account and included in Account 126: 2, Accounts Receivable from Associated Companies. NOTE B: Advances made to associated companies without expectation of reimbursement shall be charged to Account 538, Miscellaneous Income Deduc tions. 101.112 Other investments. (a) This account shall include the book cost of the utility's investment in securities issued or assumed by nonassociated companies, investment advances to such companies, and any investments not accounted for elsewhere. Securities held as temporary cash investments shall not be included in this account. (b) The records shall be maintained in such manner as to show the amount of each investment and the investment advances to each person.** NOTE: Securities owned and pledged shall be included in this account, but securities held in special deposits or in special funds shall be included in the appropriate deposit or fund account. A complete record of securities pledged shall be maintained. 101.113 Sinking funds. (a) This account shall include the assets held in sinking funds. (b) A separate account, with appropriate title, shall be kept for each sinking fund.*† NOTE: Nothing herein contained shall be construed as preventing a utility from transferring applicable sinking or other funds to Account 121:3, Miscellaneous Special Deposits, for the purpose of paying matured sinking-fund obligations, or obligations called for redemption but not presented, or the interest thereon. 101.114 Miscellaneous special funds. There shall be reported by this caption the amounts included in Accounts 114: 1, 114:2, and 114:3.*† Page 98 *For statutory citation, see note to § 101.00-1. 101.114:1 Depreciation fund. This account shall include the assets which have been segregated in a special fund for the purpose of identifying such assets with the reserve for depreciation.*† 101.114:2 Amortization fund-Federal. This account shall include the cash and investments of any fund maintained by a licensee pursuant to the requirements of a license, and the cash and investments segregated for the purpose of identifying the specific assets associated with Account 258: 1, Amortization Reserve-Federal.** 101.114:3 Miscellaneous special funds. (a) This account shall include assets which have been segregated in special funds for insurance, employees' pensions, savings, relief, hospital, and other purposes not provided for elsewhere. (b) A separate account, with appropriate title, shall be kept for each fund.*f NOTE: Amounts deposited with a trustee under the terms of an irrevocable trust agreement for pensions or other employees' benefits shall not be included in this account. CURRENT AND ACCRUED ASSETS 101.120 Cash. This account shall include the utility's current cash funds except working funds. (See Account 122, Working Funds.) *† 101.121 Special deposits. There shall be reported by this caption the amounts included in Accounts 121:1, 121:2, and 121:3.*† 101.121:1 Interest special deposits. Special deposits with fiscal agents or others for the payment of interest shall be charged to this account. When interest is paid from the deposits, the amount shall be credited to this account and charged to the appropriate accrued interest account.*† 101.121:2 Dividend special deposits. Special deposits with fiscal agents and others for the payment of dividends on behalf of the utility shall be charged to this account. When dividends are paid from these deposits, the amount thereof shall be credited to this account and charged to the appropriate dividends payable account.** 101.121:3 Miscellaneous special deposits. Special deposits with fiscal agents or others for special purposes other than the payment of interest and dividends shall be charged to this account. Such special deposits may include cash deposited with Federal, State, or municipal authorities as a guaranty for the fulfillment of obligations; cash deposited with trustees to be held until mortgaged property sold, destroyed, or otherwise disposed of is replaced; and also cash realized from the sale of the accounting utility's securities and deposited with trustees to be held until invested in property of the utility, etc. When the purposes of such deposits are satisfied and the deposits are released, this account shall be credited with the amount released. Entries to this account shall specify the purpose for which the deposit is made.*t NOTE A: The foregoing special deposit accounts shall not include any assets available for general purposes. NOTE B: Deposits for more than 1 year not offset by current liabilities shall not be charged to this account but to Account 112, Other Investments. *For statutory citation, see note to § 101.00-1. Page 99 101.122 Working funds. This account shall include cash advanced to officers, agents, employees, and others as petty cash or working funds.** 101.123 Temporary cash investments. (a) This account shall include the book cost of investments, such as demand and time loans, bankers' acceptances, United States Treasury certificates, marketable securities, and other similar investments, acquired for the purpose of temporarily investing cash. (b) This account shall be so maintained as to show: Temporary Cash Investments-Associated Companies. Temporary Cash Investments-Other.*† NOTE: If any of the temporary investments are pledged, proper record of such pledged investments shall be kept. 101.124 Notes receivable. This account shall include the book cost, not includible elsewhere, of all collectible obligations in the form of notes receivable and similar evidences (except interest coupons) of money due on demand or within 1 year from date of issue.** NOTE A: This account shall not include notes receivable from associated companies. (See Account 126:1, Notes Receivable from Associated Companies.) NOTE B: The amount of notes receivable discounted, sold or transferred, unless transferred without recourse, shall not be credited to this account but to Account 221, Notes Receivable Discounted. 101.125 Accounts receivable. There shall be reported by this caption the balances in Accounts 125:1 and 125:2.*† 101.125:1 Accounts receivable-customers. (a) This account shall include amounts due from customers for utility services, including merchandising, jobbing, and contract work. This account shall not include amounts due from associated companies. (b) This account shall be kept in such manner as to permit the ascertainment within a reasonable time of the amounts due for each utility service, including merchandising, jobbing, and contract work as a separate service.*t 101.125:2 Other accounts receivable. (a) This account shall include amounts owing the utility upon accounts with concerns or individuals, other than associated companies, and customers for utility services and for merchandising, jobbing, and contract work. (b) This account shall be maintained in such manner as to show separately the amounts due from officers and employees, but the account shall not include amounts advanced to officers or others as working funds. (See Account 122, Working Funds.)*† 101.126 Receivables from associated companies. (a) This account shall include the debit balances subject to current settlement in open accounts with associated companies, and notes and drafts upon which associated companies are liable, and which mature and are expected to be paid in full not later than 1 year from date of issuance, together with interest thereon. Items which do not bear a specified due date but which have been carried for more than 90 days and items which are not paid within 90 days from due date shall be transferred to Account 111, Investments in Associated Companies. Page 100 *For statutory citation, see note to § 101.00-1. (b) This account shall be subdivided as follows: 126:2. Accounts Receivable from Associated Companies.** NOTE A: On the balance sheet, accounts receivable from an associated company may be set off against accounts payable to the same company. NOTE B: The face amount of notes receivable discounted or sold without releasing the company from liability as endorser thereon, shall not be credited to this account, but to Account 221, Notes Receivable Discounted. 101.127 Subscriptions to capital stock. (a) This account shall include the balance due from subscribers upon legally enforceable subscriptions to capital stock of the utility. (b) The amount of each subscription shall be charged to this account at the time the subscription is accepted, and concurrently there shall be credited to Account 204, Capital Stock Subscribed, the par value in the case of stock having par value, and the stated value in the case of stock without par value, of the stock subscribed. The difference, if any, between the above amounts shall be debited or credited, as appropriate, to Account 150, Discount on Capital Stock, or Account 203, Premiums and Assessments on Capital Stock. If nonpar stock has no stated value the entire subscription price shall be credited to Account 204, Capital Stock Subscribed.*+ 101.128 Interest and dividends receivable. This account shall include the amount of interest on bonds, mortgages, notes, commercial paper, loans, open accounts, deposits, etc., and the amount of dividends receivable on stocks owned.** NOTE A: Interest and dividends receivable from associated companies shall be included in Account 126:2, Accounts Receivable from Associated Companies. NOTE B: Interest which is not subject to current settlement shall be included in the account in which is carried the principal on which the interest is accrued. 101.129 Rents receivable. This account shall include rents receivable or accrued on property rented or leased by the utility to others.*t NOTE: Rents receivable from associated companies shall be included in ACcount 126:2, Accounts Receivable from Associated Companies. 101.130 Accrued utility revenues. This account may include the estimated amount accrued to the utility for service rendered, but not billed, as of the end of any accounting period. (The use of this account is optional.)*† NOTE: In case the utility accrues unbilled revenues, it shall likewise accrue unbilled expenses, such as for the purchase of electric energy. 101.131 Materials and supplies. There shall be reported under this caption the total of the amounts in Accounts 131: 1 and 131:2.*+ 101.131:1 Materials and supplies-electric. (a) This account shall include the cost of unissued small tools and unapplied materials and supplies (including fuel) held primarily for use in the electric business. The cost shall include, when practicable, the purchase price at the point of free delivery, plus customs duties, excise and other taxes on purchases, insurance, costs of inspection, special tests prior to acceptance, loading and unloading, transportation, and other directly assignable charges. (b) Inward transportation charges for materials as far as practicable shall be included as a part of the cost of the particular materials *For statutory citation, see note to § 101.00-1. Page 101 to which they relate. When not so included, they shall be charged to Account 902, Stores Expenses-Clearing. (c) Cash or other discounts on materials shall be deducted, when practicable, in determining the cost of the particular material, or credited to the account to which the material is charged. Discounts which are not so handled shall be credited to Account 902, Stores Expenses-Clearing. (d) Materials recovered in connection with construction, maintenance, or the retirement of property shall be charged to this account as follows: (1) Re-usable materials consisting of large individual items shall be included in this account at original cost, estimated if not known. The cost of repairing such items shall be charged to the account appropriate for the previous use. (See also Electric plant instruction 5, § 101.3-5 (e).) (2) Re-usable materials consisting of relatively small items the identity of which (from the date of original installation to the final abandonment or sale thereof) cannot be ascertained without undue refinement in accounting shall be included in this account at current prices new for such items. The cost of repairing such items shall be charged to the appropriate expense account as indicated by previous use. (3) Scrap and nonusable materials included in this account shall be carried at the estimated net amount realizable therefrom. The difference between the amounts realized for scrap and nonusable materials sold and the net amount at which the materials were carried in this account, as far as practicable, shall be adjusted to the accounts credited when the materials were charged to this account. (e) Inventories of materials, supplies, fuel, etc., shall be taken at least annually and the necessary adjustments shall be made to bring this account into harmony with the actual inventories. In effecting the adjustments, large differences which can be assigned to important classes of materials shall be equitably adjusted among the accounts to which such classes of materials have been charged since the previous inventory. Other differences shall be equitably apportioned among the accounts to which_materials have been charged, or included in Account 902, Stores Expenses-Clearing.** NOTE A: Interest on material bills, the payment of which have been delayed shall be charged to Account 535, Other Interest Charges. NOTE B: There shall not be included in this account materials, supplies, and equipment held primarily for merchandising, jobbing, and contract work or for use in departments other than the electric department. (See Account 131: 2.) 101.131:2 Materials and supplies-other. This account shall include the cost of all materials and supplies held primarily for merchandising, jobbing, and contract work or for use in departments other than the electric department.*† 101.132 Prepayments. This account shall include amounts representing prepayments of insurance, rents, taxes, interest, and miscellaneous items, and it shall be kept or supported in such manner as to disclose the amount of each class of prepayments.** Page 102 *For statutory citation, see note to § 101.00-1. |