reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401916 - "Current asset" defined

Current through June 11, 2024
"Current asset" means:
1. Cash;
2. An asset that is readily convertible into
				cash or is held for current use in operations;
3. A current claim against another person,
				the payment of which is reasonably assured; and
4. An amount accruing to a company that is
				subject to current settlement, except an item for which an account other than
				an account designated as a current asset is provided.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401917 - "Date of disposal or retirement" defined

Current through June 11, 2024
"Date of disposal or retirement," as applied to property,
				  means the date on which the property is disposed of or retired.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401918 - "Depreciation" defined

Current through June 11, 2024
1. "Depreciation,"
				as applied to operating property, means the loss in service value not restored
				by current maintenance that is incurred in connection with the consumption or
				prospective retirement of property in the course of service from causes which
				are known to be in current operation and against which the company is not
				protected by insurance.
2. As used
				in this section, "causes" includes, without limitation, wear and tear, decay,
				action of the elements, inadequacy, obsolescence, changes in the art, changes
				in demand and the requirements of public authorities.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401919 - "Discount" defined

Current through June 11, 2024
"Discount" means the excess of the par or face value of
				  securities issued or assumed by a company, or the stated value of no-par
				  stocks, plus interest or dividends accrued as of the date of the sale over the
				  cash value of the consideration received from the sale of the securities or
				  stocks.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.40192 - "Functional division" defined

Current through June 11, 2024
"Functional division" means the division of overall
				  activities engaged in by an operating company into identifiable and separable,
				  or reasonably allocated, supporting activities, such as dispatching activities,
				  shop and garage activities, limousine operating activities, general and
				  administrative activities and other activities.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401921 - "Nominally issued" defined

Current through June 11, 2024
"Nominally issued," as applied to securities issued or
				  assumed by a company, means securities which have been signed, certified or
				  otherwise executed and which have been placed with the proper officer for sale
				  and delivery, pledged or otherwise placed in some special fund of the company,
				  but which have not been sold, or issued directly to trustees of sinking funds
				  in accordance with contractual requirements.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401922 - "Nominally outstanding" defined

Current through June 11, 2024
"Nominally outstanding," as applied to securities issued or
				  assumed by a company, means securities which, after being actually issued, have
				  been reacquired by or for the company under circumstances that require the
				  securities to be considered as held alive and not retired. The term does not
				  include securities held by trustees.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401923 - "Original cost" defined

Current through June 11, 2024
"Original cost," as applied to the property of a company,
				  means the cost of the property at the time of acquisition.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401924 - "Outside labor" defined

Current through June 11, 2024
"Outside labor" means labor services performed for a company
				  by a person who is not an employee, partner or owner of the company.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401925 - "Premium" defined

Current through June 11, 2024
"Premium," as applied to the securities issued or assumed by
				  a company, means the excess of the cash value of the consideration received
				  from the sale of the securities over the sum of the par or face value of the
				  securities, or the stated value of no-par stocks, and interest or dividends
				  accrued as of the date of sale.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401926 - "Property disposed" and "property retired" defined

Current through June 11, 2024
"Property disposed" or "property retired," as to the property
				  of a company, means property which has been removed, sold, abandoned, destroyed
				  or which for any cause has been withdrawn from service.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401927 - "Salvage value" defined

Current through June 11, 2024
"Salvage value" means:
1. The amount received for property disposed
				or property retired, less the cost of disposition; or
2. An arbitrary value that is set up for
				accounting purposes on resalable, usable or depreciable property.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401928 - "Service life" defined

Current through June 11, 2024
"Service life" means the period between the date on which
				  property is placed in service and the date on which the property is retired
				  from service.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401929 - "Service value" defined

Current through June 11, 2024
"Service value" means the difference between the book cost
				  and the salvage value of property owned by a company.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.40193 - "Straight-line method" defined

Current through June 11, 2024
"Straight-line method" means the plan for depreciation
				  accounting under which the service value of property is charged to depreciation
				  expenses and credited to depreciation reserves through equal periodic charges
				  as nearly as may be during its service life.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401931 - "Uniform system of accounts for limousine operations" defined

Current through June 11, 2024
"Uniform system of accounts for limousine operations" means
				  the uniform system of accounts for limousine operations established pursuant to
				  NAC 706.401905 to 706.401995, inclusive.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401932 - Maintenance of books and records; reports of information

Current through June 11, 2024
1. A company subject to the jurisdiction of
				the Authority shall keep its books of account and all other books, records and
				memoranda that support the entries in its books of account in accordance with
				the uniform system of accounts for limousine operations established pursuant to
				NAC 706.401905 to 706.401995, inclusive. A company must be able to furnish
				information as to any item included in an account. Each entry must be supported
				by such detailed information as will allow ready identification, analysis and
				verification of all relevant facts.
2. The books and records must include
				accounting records usually kept pursuant to generally accepted accounting
				principles and all other records that may be useful in developing the history
				of or facts regarding a transaction, including, without limitation, trip
				sheets, minute books, stock books, reports, correspondence and
				memoranda.
3. Trip sheets,
				invoices, cancelled checks, ledgers, inventory records, minute books, reports,
				correspondence, memoranda and any other documents that are not currently in use
				must be maintained for at least 3 years in an orderly and systematic manner
				which will allow immediate review of or reference to any particular dated trip
				sheet or record.
4. In addition to
				the accounts prescribed by the uniform system of accounts for limousine
				operations, a company may keep clearing accounts, temporary or experimental
				accounts and subdivisions of accounts, if the integrity of the accounts
				prescribed by the uniform system of accounts for limousine operations is not
				impaired.
5. The Authority may at
				any time request additional detailed information from a company to be obtained
				from the books and records required to be maintained by the company pursuant to
				the uniform system of accounts for limousine operations, if the Authority
				determines that the additional information is necessary for regulatory
				purposes.
6. The arrangement or
				sequence of the accounts prescribed in the uniform system of accounts for
				limousine operations is not controlling for the arrangement or sequence that
				may be prescribed by the Authority in the forms for reporting the
				information.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401933 - Accounting method and period

Current through June 11, 2024
1. Each entry in an
				account prescribed by the uniform system of accounts for limousine operations
				must be made by the "double-entry" method of bookkeeping, and each such account
				must be maintained on an accrual basis. If bills covering transactions have not
				been received or rendered, the amounts must be estimated and accruals based on
				the estimates or orders must be recorded. Appropriate adjustments must be made
				when phone bills, utility bills or other bills are received.
2. A company shall keep its books on a
				monthly basis so that for each month all applicable transactions are entered in
				the books of the company.
3. A
				company shall close its books for regulatory purposes at the end of each
				calendar year unless the company has received permission from the Authority to
				report based on a fiscal year.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401934 - Questions of doubtful interpretation

Current through June 11, 2024
To maintain uniformity of accounting, a company shall submit
				  questions of doubtful interpretation to the Authority for consideration and
				  decision.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401935 - Purpose of lists of items

Current through June 11, 2024
Lists of items are included in the texts of the accounts or
				  in the uniform system of accounts for limousine operations to indicate more
				  clearly the application of the prescribed accounting. The lists are intended to
				  be representative, but not exhaustive.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401936 - Use of functional divisions of accounts

Current through June 11, 2024
A company shall use the functional divisions of accounts set
				  forth in the uniform system of accounts for limousine operations if the
				  functional divisions are applicable to the operations of the company.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401937 - Inventory requirements

Current through June 11, 2024
1. A company shall
				take physical inventories on the last day of each calendar or fiscal year, or
				in lieu thereof, during the last week of the calendar year or fiscal year, of
				all materials and supplies that affect the operational, repair or maintenance
				activities of the company, including, without limitation, fuel, oil, tires,
				batteries, radio tubes, shop parts and small tools. An adjustment to the proper
				expense account must be made for the difference between the inventories taken
				at the end of the calendar or fiscal year and the inventories recorded for the
				beginning of the calendar or fiscal year. If any bills have not been received
				or recorded for items considered in the year-end inventory, proper accrual
				entries must be made at a realistic estimated cost value. The adjustments must
				reflect proper expenses for the end of the current year.
2. Inventories of all materials and supplies
				must be segregated in accordance with the functional divisions established
				pursuant to the uniform system of accounts for limousine operations so that
				expenses may be allocated properly.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401938 - Fixed assets

Current through June 11, 2024
A company shall include in its accounts the original cost of
				  all property that:
1. Is owned by the
				company and devoted to the limousine operations of the company;
2. Has an estimated service life of more than
				1 year; and
3. Had an original cost
				of more than $100.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401939 - Depreciable assets

Current through June 11, 2024
1. To ensure that
				all records for preparing financial reports which must be forwarded to the
				Authority are maintained on a comparable basis, the requirements regarding
				depreciation for reporting and regulatory purposes are set forth in this
				section.
2. The straight-line
				method is the only allowable method of computing annual depreciation charges to
				operations.
3. The following chart
				sets forth the service lives and salvage values of various depreciable assets.
				The requirements for depreciable assets as shown in the chart do not preclude a
				company from using longer or shorter service lives, higher or lower salvage
				values, or another method of calculating depreciation for any purposes other
				than recording amounts and reporting under the uniform system of accounts for
				limousine operations.
Category
Service Life
Salvage Value
Operating Depreciable Assets
Limousines
60 months
none
Dispatching Depreciable Assets
Radios
new
60 months
none
used
36 months
none
Telephonic equipment
new
60 months
none
used
36 months
none
Transmitters
new
60 months
none
used
36 months
none
Radio and telephonic test equipment
new
60 months
none
used
36 months
none
Shop and Garage Depreciable Assets
Automotive equipment
new
48 months
none
used
36 months
none
Shop equipment
new
84 months
none
used
36 months
none
Body shop equipment
new
84 months
none
used
36 months
none
General and Administrative Depreciable
							 Assets
Office equipment
new
84 months
none
used
36 months
none
Furniture and fixtures
new
120 months
none
used
60 months
none
Office and buildings
original
360 months
none
additions
360 months
none
air-conditioning
84 months
none
Leasehold improvements
Length of lease
none
(unless life of asset warrants shorter amortization
							 period)
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.40194 - Gain or loss on dispositions

Current through June 11, 2024
1. The account for
				the gain or loss on the disposal of automotive equipment must include all gains
				or losses on the disposition of limousines of the company devoted to its
				limousine operations.
2. The
				account must be maintained with sufficient detail and description, supported by
				appropriate records, of each item included to allow ready identification,
				analysis and verification of all facts relative to each asset disposed
				of.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › General Provisions › Section 706.401941 - Payroll and payroll costs

Current through June 11, 2024
1. Salaries, wages
				and other compensation, including, without limitation, reasonable salaries paid
				to officers and proprietors and payroll costs applicable to such compensation,
				must be maintained based on functional division and charged as applicable to
				the payroll and payroll cost accounts set up under the functional divisions in
				the uniform system of accounts for limousine operations established pursuant to
				the uniform system of accounts for limousine operations.
2. If an employee, including an officer or
				proprietor, who normally performs services in one functional division performs
				services during a working period in one or more other functional divisions, his
				or her compensation and payroll costs for that period must be allocated on a
				time basis and charged to the applicable and appropriate division accounts. The
				provisions of subsections 2, 3 and 4 of NAC 706.401984 describe the method
				applicable to payroll and payroll costs of shop and garage employees for
				maintenance and repairs only.
3.
				Salaries, wages or other compensation, including reasonable salaries paid to
				officers and proprietors and payroll costs charged to operating revenue
				deductions, must be supported by a quarterly "Payroll and Payroll Cost
				Distribution Summary" detailing all particulars, including payments made
				pursuant to the Federal Insurance Contributions Act and the Federal
				Unemployment Tax Act, unemployment compensation paid pursuant to chapter 612 of
				NRS and costs for workers' compensation insurance charged to each functional
				account.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401942 - Current assets: Items not to be included

Current through June 11, 2024
Any item, the amount or collectibility of which is not
				  reasonably assured, must not be included in the group of accounts designated as
				  current assets unless an adequate provision for possible loss has been
				  made.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401943 - Current assets: Account for cash on hand

Current through June 11, 2024
The account for cash on hand must include all undeposited
				  money, in cash or checks, as of the close of business at the end of a year.
				  Proper credit must be made to the accounts for which this money was received,
				  including, without limitation, limousine fares, trade accounts receivable,
				  advertising revenue, and payments on loans or accounts other than trade.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401944 - Current assets: Account for cash in banks

Current through June 11, 2024
The account for cash in banks must include all money on
				  deposit in a banking institution to the credit of the company. Special cash
				  deposits for payment of interest, dividends, payroll taxes or other special
				  purposes must be included in this account in separate subdivisions that specify
				  the purpose for which each special deposit is made.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401945 - Current assets: Account for petty cash

Current through June 11, 2024
1. The account
				for petty cash must include all money used to facilitate disbursements for
				small expenditures to avoid the drawing of many small checks, and all money
				used for check-cashing accommodations. Responsibility for this account must be
				assigned to a designated officer or employee or to one or more other designated
				persons. Proper entries must be kept for complete identification and
				verification.
2. The account must
				not include any advances or loans to stockholders, directors, officers,
				partners, employees or agents. Such advances or loans must be included in the
				accounts described in NAC 706.401947.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401946 - Current assets: Account for trade accounts receivable

Current through June 11, 2024
1. The account for trade accounts receivable
				must include all amounts that are due the company arising from or attributable
				to the limousine operations of the company and for which payment has not been
				received.
2. Records must be
				maintained showing the balance due from each person or company, and the sum of
				these individual balances must agree with the total of the account.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401947 - Current assets: Accounts for employees' and officers' accounts receivable

Current through June 11, 2024
1. The account for
				employees' accounts receivable must include all amounts that are due the
				company from its employees, other than officers, and for which payment has not
				been received.
2. The account for
				officers' accounts receivable must include all amounts that are due the company
				from its officers, proprietors or partners, and for which payment has not been
				received.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401948 - Current assets: Account for notes receivable

Current through June 11, 2024
1. The
				account for notes receivable must include the book cost, not includable
				elsewhere, of all collectible obligations in the form of notes, drafts and
				similar evidences of money due the company.
2. Complete information must be maintained in
				the account for each note, including, without limitation, the maker of the
				note, payor, payee, date of issuance, date of maturity, interest rate and
				penalties. This information must clearly indicate the amounts due from each
				person or company.
3. The face
				amount of notes receivable discounted, sold or transferred without releasing
				the company as endorser must be credited to a separate subdivision of the
				account, and appropriate disclosure must be made in financial statements of any
				contingent liability arising from such transactions.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401949 - Current assets: Account for other accounts receivable

Current through June 11, 2024
The account for other accounts receivable must include all
				  amounts which are due the company and which are not attributable to the
				  limousine operations of the company and for which payment has not been
				  received. The account must clearly indicate how much is due from each company
				  or person.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.40195 - Current assets: Account for bad debts

Current through June 11, 2024
Provision for any actual or probable losses under the
				  accounts described in NAC 706.401946 to 706.401949, inclusive, must be credited
				  to the account for bad debts with a corresponding charge to the account for bad
				  debt expenses described in subsection 5 of NAC 706.401987, or the account for
				  miscellaneous other expenses described in subsection 4 of NAC
				  706.401994.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401951 - Current assets: Account for inventory supplies

Current through June 11, 2024
1. The
				account for inventory supplies must include the inventories of:
(a) All gasoline and other fuel in storage
				tanks at the end of the accounting period, computing value at the lower of cost
				or market; and
(b) All oil, tires,
				batteries, radio parts, shop parts and small tools on hand at the end of the
				accounting period, computing value at the lower of cost or market.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401952 - Current assets: Account for prepaid expenses

Current through June 11, 2024
1. The
				account for prepaid expenses must include all amounts representing prepayments,
				including, without limitation, insurance, rents, taxes and other items, and
				must be maintained and supported in such a manner as to disclose the amount of
				each class of prepayments. Subaccounts may be maintained for this
				purpose.
2. If a prepayment is
				made, the account must be charged with the full amount of the prepayment and
				subsequently credited with each portion that will ratably distribute the
				prepayment to expense over the benefited period. A portion ratably credited to
				prepaid expense must be charged to the appropriate functional accounts for
				operating expenses.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401953 - Current assets: Account for refundable deposits

Current through June 11, 2024
The account for refundable deposits must include all
				  refundable deposits with federal, state, county or municipal authorities, and
				  with fiscal agents or others for the fulfillment of obligations.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401954 - Current assets: Account for miscellaneous current assets

Current through June 11, 2024
The account for miscellaneous current assets must include the
				  book cost of all other current assets not provided for elsewhere, appropriately
				  described and supported as to show the nature of each asset included in the
				  account.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401955 - Account for fixed assets

Current through June 11, 2024
1. The account for
				fixed assets must include the original cost of property owned by the company
				which is devoted to the limousine operations of the company and which has an
				estimated service life of more than 1 year and a cost of $5,000 or
				more.
2. The cost of additions to
				and improvements of property leased from others, which must also be included in
				the account for fixed assets, must be recorded in subaccounts separate and
				distinct from similar costs relating to owned property. Such additions or
				improvements must be included in the account for leasehold improvements
				described in NAC 706.401958.
3.
				When the consideration given for property is other than cash, the value of the
				consideration must be determined on a cash basis. In the entry recording such a
				transaction, the actual consideration must be properly described to make it
				easily identifiable. The company must be prepared to furnish the Authority with
				details regarding the method used by the company to determine the cash
				value.
4. When property is
				purchased under a plan involving deferred payments, no charge may be made to
				the asset accounts for interest, insurance or other expenditures occasioned
				solely by that form of payment.
5.
				Upon a disposition or abandonment of any of these assets, the applicable asset
				account must be credited in the amount at which the asset was recorded and the
				amount must be debited as appropriate to the account for gain or loss on
				disposal of automotive equipment described in subsection 13 of NAC 706.401982,
				or the account for gain on the sale of assets except automotive equipment
				described in subsection 4 of NAC 706.401993.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401956 - Fixed assets: Land account

Current through June 11, 2024
1. The land account
				for limousine operations must include the cost of all land devoted to the
				limousine operations of the company, including, without limitation:
(a) The original price of the land;
				and
(b) All costs incidental to the
				purchase when acquired, if paid by the purchaser, including, without
				limitation, commissions paid to agents, escrow fees, title fees, liens
				satisfied to clear title and prorated tax expense.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401957 - Fixed assets: Buildings account

Current through June 11, 2024
The buildings account must include the cost of all buildings
				  devoted to the limousine operations of the company. For the purposes of this
				  section, the cost of buildings includes the cost of fixtures attached to and
				  forming a permanent part of the building and fixtures that cannot be removed
				  without cutting into the wall, ceilings or floors, or without in some way
				  impairing the buildings, including, without limitation, plumbing pipes and
				  fixtures, heating and air-conditioning apparatus, electric wiring and fixtures,
				  and elevators, cranes and hoists and the machinery for operating elevators,
				  cranes and hoists.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401958 - Fixed assets: Account for leasehold improvements

Current through June 11, 2024
The account for leasehold improvements must include the cost
				  of all additions to and improvements of property leased from others. All
				  entries must be made with sufficient detail to allow ready
				  identification.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401959 - Fixed assets: Account for shop and garage equipment

Current through June 11, 2024
1. The account for shop and garage equipment
				must include the cost of all hoists, electric motors, lathes, drill presses,
				air compressor equipment, tire changing equipment, wheel alignment equipment,
				welding sets, work benches and expensive special purpose tools that cost over
				$5,000.
2. The account must not
				include hand or other portable tools that:
(a)
				Are likely to be lost or stolen;
(b) Have a value of $5,000 or less;
				or
(c) Have a short life or period
				of use.
Such items must be appropriately charged to the account for
				  repairs and maintenance described in subsection 6 of NAC 706.401982 or the
				  account for miscellaneous shop and garage expenses described in subsection 11
				  of NAC 706.401984.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.40196 - Fixed assets: Account for furniture and office equipment

Current through June 11, 2024
The account for furniture and office equipment must include
				  the cost of all:
1. Office
				furniture;
2. Business machines;
				and
3. Equipment not permanently
				attached to the building,
that are used in the operation of a limousine company.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401961 - Fixed assets: Limousine account

Current through June 11, 2024
Except as otherwise provided in this section, the limousine
				  account must include the cost of all limousines devoted to the operations of a
				  limousine company, including the cost of painting and the first set of
				  accessory equipment necessary to fit the limousine for service. Costs for radio
				  and telephonic equipment must be included in the account for radio and
				  telephonic equipment described in NAC 706.401963 and must not be included in
				  the limousine account as part of the cost of limousines.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401962 - Fixed assets: Account for other automotive equipment

Current through June 11, 2024
The account for other automotive equipment must include the
				  cost of all motor vehicles, other than limousines, that are used in connection
				  with the operations of a limousine company.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401963 - Fixed assets: Account for radio and telephonic equipment

Current through June 11, 2024
Except as otherwise provided in this section, the account for
				  radio and telephonic equipment must include the cost of all radio and
				  telephonic equipment owned by the company that is devoted to the limousine
				  operations of the company, including the cost of original installation and any
				  necessary accessories. The cost of any repairs and the replacement of any parts
				  must be recorded as an expense in the account for repairs and maintenance of
				  dispatch equipment described in subsection 9 of NAC 706.401983 and must not be
				  included in the account for radio and telephonic equipment.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401964 - Account for other fixed assets

Current through June 11, 2024
The account for other fixed assets must include the cost of
				  all tangible property and equipment devoted to the limousine operations of the
				  company for which a separate account has not been otherwise provided in the
				  uniform system of accounts for limousine operations. All entries in the account
				  for other fixed assets must be made with sufficient detail and description
				  recorded to allow immediate identification, analysis and verification of all
				  relevant facts.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401965 - Account for total depreciation and amortization allowance

Current through June 11, 2024
1. For the purpose of general ledgers, the
				account for total depreciation and amortization allowance must be treated as a
				single composite provision for depreciation and amortization. For the purpose
				of analysis, a company shall maintain subaccounts in which the account for
				total depreciation and amortization is segregated according to the same account
				classification used in the accounts for fixed assets.
2. The account for total depreciation and
				amortization must be credited with the amounts charged to the functional
				accounts for depreciation and amortization expense.
3. On the date of disposal or retirement of a
				depreciable or amortizable fixed asset, the account must be charged in the
				amount of the total accumulated provision relating to the asset up to the date
				of retirement or disposal, and the accounts described in subsection 13 of NAC
				706.401982, subsection 4 of NAC 706.401993 and subsection 2 of NAC 706.401994
				must be credited or charged, as appropriate. These entries must be recorded
				with sufficient detail and description to allow ready identification, analysis
				and verification of all relevant facts.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401966 - Accounts for organizational expense and deferred charges

Current through June 11, 2024
1. The account for organizational expense
				must include the original cost of organizing the company.
2. The account for deferred charges must
				include all debits for which a separate account has not been otherwise
				provided, including, without limitation:
(a)
				Unamortized debt discount and expense;
(b) Unusual or extraordinary expenses that
				are in the process of amortization; and
(c) Any other item for which the proper final
				disposition is uncertain.
The records supporting the entries to the account must
				  contain sufficient detail and description to allow ready identification,
				  analysis and verification of all relevant facts.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401967 - Accounts for other assets

Current through June 11, 2024
1. The investment
				account must include:
(a) The book cost of
				investments made for a period or periods of more than 1 year in duration in
				securities, notes, mortgages and other items, of both associated companies and
				companies that are not associated companies; and
(b) The offsetting entry to the recording of
				amortization of discount or premium on interest-bearing investments when such
				investments were purchased for less or more than face value.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401968 - Account for current and accrued liabilities

Current through June 11, 2024
1.
				Except as otherwise provided in this section, the account for current and
				accrued liabilities must include, without limitation, obligations that have
				matured or become due within 1 year after the date thereof.
2. Bonds or receivers' certificates and other
				similar items must not be entered in the account for current and accrued
				liabilities. Such items must be classified as long-term liabilities until the
				date of maturity.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401969 - Accounts for notes payable

Current through June 11, 2024
1. The account for
				short-term notes payable must include:
(a)
				Amounts owing on notes, drafts, acceptances or other similar evidences of
				indebtedness that are payable on demand or within 1 year after the date of
				issuance or acceptance, including interest; and
(b) Under appropriate subaccounts, notes,
				drafts, acceptances or other similar evidences of indebtedness that are payable
				to associated companies on demand or within 1 year after the date of issuance
				or acceptance, including interest.
Information to be contained in the account for short-term
				  notes payable must include the face value of the note, date made, date due,
				  interest rate, payee and any other identifying information.
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.40197 - Accounts for accounts payable, open accident liabilities and contracts payable

Current through June 11, 2024
1. The account for
				accounts payable must include all amounts for goods and services received by
				the company which are payable within 1 year after the date thereof and which
				have not been paid.
2. The account
				for open accident liabilities must include a provision for the amounts set
				aside by self-insured companies for the actual or estimated liabilities from
				accidents not totally covered by insurance policies.
3. For reporting purposes, the portion of any
				contract payable which becomes due within 1 year after the date thereof and
				which has not been paid must be included in the account for contracts
				payable.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401971 - Accounts for accrued salaries and wages and for accrued vacation pay

Current through June 11, 2024
1. The account for accrued salaries and wages
				must include the gross amount of salaries or wages earned but not paid at the
				end of the month.
2. The account
				for accrued vacation pay must include the amount of accrued vacation pay owed
				at the end of the month.
Added to NAC by
				  Transportation Serv. Auth. by R040-02, eff.
				  9-20-2002
NRS
					 706.167,
					 706.171
Nevada Administrative Code › Chapter 706 - Motor Carriers › UNIFORM SYSTEM OF ACCOUNTS FOR LIMOUSINE COMPANIES › Accounts › Section 706.401972 - Accounts for payroll taxes withheld and accrued and for accrued payroll benefits

Current through June 11, 2024
1. The account for
				payroll taxes withheld and accrued must include all amounts withheld from the
				wages or salaries of employees that are payable to a governmental agency and
				all accrued liabilities of the company which are owed to a governmental agency,
				the liability for which is determined on the basis of a percentage of the
				payroll. The account must be maintained in such a manner as to allow ready
				identification of the liability of the company to each governmental
				agency.
2. The account for accrued
				payroll benefits must:
(a) Include all amounts
				withheld from employee wages or salaries that are payable at the end of each
				month, other than such amounts payable to a governmental agency;
(b) Include all liabilities incurred by the
				company which are payable and which arise as a result of having employees,
				other than such liabilities payable to a governmental agency; and
(c) Be maintained in such a manner as to
				allow ready identification of liabilities as between the employees and the
				company and the class of liability accrued, including, without limitation,
				welfare, pension contributions and other contributions.