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assumed by the air carrier and held by other than associated companies, which has not been retired or cancelled and is not payable within 12 months of the balance sheet date, except as provided in section 5-7. 2240 Advances from Associated Com.
panies. Record here net amounts due associated companies for notes, loans and advances which are not settled currently. Balances payable to and receivable from different associated companies shall not be offset. 2245 Advances from Nontransport Divi
sions. (a) Record here net advances, including amounts settled currently, from nontransport divisions for which separate records and books of account are maintained.
(b) Each nontransport division shall be accounted for separately in net amounts payable, which shall be included in this account, or net amounts receivable which shall be included in balance sheet account 1520 Advances to Nontransport Divisions. 2250 Pension Liability.
Record here the liability of the air carrier under employee pension plans, to which either or both employees and the air carrier contribute, if the plan is administered by the air carrier. 2260 Company Stock Purchase Plan
Liability. Record here the liability for installments received on capital stock from company personnel who are not bound by legally enforceable subscription contracts. 2290 Other Noncurrent Liabilities.
Record here noncurrent liabilities not provided for in balance sheet accounts 2210 to 2260, inclusive, such as accruals for personnel dismissal liability, and accruals of other demonstrable miscellaneous noncurrent liabilities.
DEFERRED CREDITS 2330 Unamortized Premium on Debt.
(a) Record here the excess of the cash value of consideration received over the par value plus accrued interest on debt securities issued.
(b) Amounts recorded in this account shall be amortized to profit and loss account 87 Interest Expense. 2340 Deferred Federal Income Taxes.
(a) Record here deferred income tax credits and debits arising from different treatment for tax and book accounting purposes of those income elements specifically set forth in section 2–6(b).
(b) This account shall be credited or debited, as appropriate and profit and loss subaccount 92.1 Current Provisions for Deferred Taxes shall be debited or credited, each quarter, with deferred income taxes applicable to the income elements for which the related income tax effect is deferred. Deferred tax provisions shall be computed at tax rates, under existing law, at which the deferred taxes are payable. This means that insofar as income differences result from the application of different residual values in determining depreciation the applicable deferred tax shall be accrued at the appropriate capital gain rate.
(c) This account shall be debited or credited as appropriate, and profit and loss subaccount 92.2 Application of Taxes Deferred shall be credited or debited, each quarter, with deferred tax amounts previously accrued which are allocable to income of the current period.
(d) Upon adjustment or elimination of the income element for which income taxes are deferred, the related deferred tax balance included in this account shall be correspondingly adjusted or eliminated by debit or credit, as appropriate, to profit and loss subaccount 92.3 Adjustment of Deferred Taxes.
(e) Any debit balance herein shall be treated for statement purposes, as a special subaccount of balance sheet account 1890 Other Deferred Charges.
(1) Each air carrier is restricted in its use of this account to the purposes set forth in section 2–6. Deferred tax balances shall not be reversed or revised without prior approval of the Civil Aeronautics Board except that correction of clerical errors shall be effected upon the initiative of the air carrier. All adjustments shall be effected through appropriate credits or debits to profit and loss subaccount 92.3 Adjustment of Deferred Taxes. Full explanation of each adjustment shall be set forth in CAB Form 41 report for the period in which the adjustment is made.
2345 Deferred investment tax credits.
Record here investment tax credits utilized as reduction of tax liabilities, when the carrier exercises the option to defer such credits for amortization over the service life of related equipment (see section 6–2131). (ER-425, 30 F.R. 745, Jan. 23, 1965) 2350 Reserve for Self-Insurance.
(a) Record here all accruals through charges against income for uninsured losses. Segregations of retained earnIngs for uninsured loss contingencies shall not be credited to this account but to balance sheet account 2930 Appropriations of Retained Earnings.
All sustained losses associated with risks for which accruals are being made shall be charged to this account. If through the operation of the carrier's self-insurance plan a debit balance results in this account, such debit balance shall not be reclassified to another account for either statement or accounting purposes but shall remain in this account until liquidated through operation of the plan in subsequent periods. Upon each redetermination of self-insurance requirements, pursuant to section 2–13, any balances of material amount in excess of those required to cover current risks borne by the air carrier shall be credited to profit and loss account 96 Special Income Credits and Debits (Net) rather than to insurance expense accounts. (See section 2-13, Establishment of Reserves.)
(b) The losses charged to this account shall be limited to the net losses associated with each casualty for which self-insurance reserves are provided, after offsetting any recoveries from purchased insurance, as accumulated in balance sheet account 1890 Other Deferred Charges. (See also section 2–13.) Under co-insurance programs, this account shall be charged with losses borne by the carrier and not covered by purchased insurance. Any excess of accumulated proceeds from purchased insurance under such co-insurance programs over the depreciated cost of accumulated property losses during each insured period shall be credited to this account to the extent losses associated with such casualties have been charged to this account during such period. Any remaining excess accumulated during
the insured period shall be credited to profit and loss account 81 Capital Gains and Losses and shall not be credited to this account. The cost of ordinary maintenance and overhaul work performed along with the repair of casualty damage shall be charged to the appropriate maintenance accounts and not to this account. Refunds of insurance premiums whether based upon the air carrier's casualty experience, or otherwise, shall not be credited to this account but to the applicable insurance expense account.
(c) Each air carrier shall maintain appropriate records for each type and class of property risk or other risk for which self-insurance reserves are provided.
(d) The air carrier shall submit in writing to the Civil Aeronautics Board a statement describing the air carrier's policy with respect to self-insurance pursuant to section 2-13. 2390 Other Deferred Credits.
Record here credits, not provided for elsewhere, the proper final disposition of which cannot be effected until additional information has been received.
STOCKHOLDER EQUITY 2820 Preferred Stock.
Record here in separate subdivisions for each class and series, the par or stated value of preferred capital stock issued or in the case of no-par stock without stated value, the full consideration received. 2840 Common Stock.
Record here in separate subdivisions for each class and series, the par or stated value of common stock issued or in case of no-par stock without stated value, the full consideration received. 2860 Capital Stock Subscribed and Un
issued. Record here in separate subdivisions for each class and series, the par or stated value, or the subscription price in the case of stock without par or stated value, of legally enforceable subscriptions to the capital stock of the air carrier. 2890 Other Paid-In Capital.
(a) Record here in separate subdivisions for each class and series, the difference between the price at which capital stock is sold and the par or stated value of such stock; gains or losses arising from the reacquisition and the resale or retirement of each class and series of capital stock; donations; the excess of retained earnings capitalized over par or stated value of capital stock issued; and adjustments in capital resulting from reorganization or recapitalization. This account shall also include the balances of contributions to the business enterprise of individual proprietors or partners.
(b) Each air carrier shall maintain the following subaccounts: 2890.1 Premium on Capital Stock.
Record here in separate subdivisions for each class and series of capital stock Issued the excess of the cash value of consideration 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 value. 2890.2 Discount on Capital Stock.
Record here in separate subdivisions for each class and series of capital stock issued, the excess of the par or stated value over the cash value of consideration received, less accrued dividends. Discount applicable to a particular class and series of capital stock may be offset against premiums from the same class and series of capital stock. Discounts and premiums on different classes and series of capital stock shall not be offset. The air carrier may, at its option, record in this subaccount commissions and expenses incurred in the issuance of capital stock and may charge balance sheet account 2940 Unappropriated Retained Earnings to the extent capital stock expense may exceed any existing balance of paid-in capital over the par or stated value of capital stock. 2890.3 Other Capital Stock Transactions.
Record here, in separate subdivisions for each class and series, the balance of credits arising from the reacquisition and resale or cancellation of capital stock, credits arising from a reduction in the par or stated value of capital stock or the net balance of credits or debits resulting from other paid-in capital transactions, not provided for elsewhere, which is identified with particular classes and series of capital stock. 2890.9 Miscellaneous Paid-in Capital.
Record here all other paid-in capital credits or debits not identified with particular classes and series of capital stock such as capital provided by donations from company stockholders and other pald-in capital which at the effective date of this system of
accounts cannot be classified as to the source thereof. 2930 Appropriations of Retained Earn
ings. (a) Record here amounts of retained earnings segregated for contingencies and other special purposes, including retained earnings segregated in connection with self-insurance plans.
(b) Charges resulting from the materialization of events for which retained earnings have been appropriated shall not be entered in this account but in appropriate profit and loss accounts. Balances in this account shall be returned to balance sheet account 2940 Unappropriated Retained Earnings when the reason for which created no longer exists. 2940 Unappropriated Retained Earn
ings. (a) Record here the net income or loss from operations of the air carrier and dividends declared on capital stock.
(b) This account shall not be charged with dividends on treasury stock but may be charged with dividends on capital stock of the air carrier held in special funds not under the control of the air carrier. If a dividend is not payable in cash the values entered in this account shall be completely described.
(c) Delayed credits or charges to income shall not be entered in this account directly but in appropriate profit and loss accounts.
(d) Net income or loss accounted for during the current fiscal year shall not be entered in this account until the close of the fiscal year. Individual proprietorships or partnerships may clear net income or loss accounted for during the year directly to balance sheet account 2890 Other Paid-In Capital, or optionally, to this account for subsequent transfer to balance sheet account 2890 Other Paid-In Capital. 2990 Treasury Stock.
(a) Charge here the cost of capital stock issued by the air carrier reacquired by it and not retired or cancelled. Capital credits or debits resulting from the resale or retirement of capital stock held in this account shall be entered in balance sheet account 2890.3 Other Capital Stock Transactions.
(b) Separate records shall be established for each class and series of capital stock held in this account.
OPERATING REVENUES 01 Passenger.
01.1 Passenger--first class ..
01.2 Passenger-coach...... 02 United States mail.
02.: Nonpriority. 03 Foreign Mail. on Property.
06.1 Express. 06.8 Freight
06.3 Excess passenger baggage.. 07 Charter and special.
10.1 Gross revenues...
10.3 Other expenses... 11 Rents.
11.1 Gross revenues.
11.9 Other expenses.. 12 Limousine service.
12.1 Gross revenues..
12.3 Other expenses...
13.1 Gross revenues...
13.3 Other expenses.-
14.1 Gross revenues...
14.3 Other expenses.
15.1 Gross revenues..
16.3 Other expenses...
16.1 Gross revenues...
16.3 Other expenses... 17 Air cargo services.
17.1 Gross revenues.-
17.9 Other expenses...
18.1 Gross revenues..
18.3 Other expenses.-
19.1 Reservations cancellation fees.
46. 46. 46.
21 General management personnel..
53, 55, 64, 67,
53, 55, 61, 62,
63, 65, 66, 68. 51. 51, 55.
23 Pilots and copilots..
25.9 Labor-ground property and equipment. 26 Aircraft and traffic handling personnel.
26.1 General aircraft and traffic handling personnel.
61, 62, 63, 65.
PROFIT AND LOSS CLASSIFICATIONS-Continued
Section 7-Chart of Profit and loss Accounts—Continued
68. 51, 53, 55, 64, 51, 53, 65, 61, 67, 68.
62, 63, 65, 66, 68.
42 General services purchased--associated companies.
42.1 Airframe repairs-associated companies...,
52, 53, 69.
52. 52. 52.
18 General services purchased outside.
Airframe repairs-outside. 43.2 Alrcraft engine repairs outside. 43.3 Other flight equipment repairs-outside. 43.6 Flight equipment repairs-outside. 43.7 Alrcraft interchange charges-outside. 43.8 General Interchange service charges-outside. 43.9 Other services outside..
51, 52, 52, 55, 64, 67, 52, 55, 61, 62, 68.
63, 65, 66, 68. 52, 53, 55, 64, 52, 53, 55, 61, 67, 68.
62, 63, 65, 66, 68.
51, 53, 55, 64, 51, 53, 65, 61, 67, 68.
62, 63, 65, 66,
44.2 Landing lees. 45 Aircraft fuels and oils.
45.1 Alrcraft fuels...
45.2 Aircraft oils..
46.9 Ground property and equipment...
63, 65, 66, 68.
62, 63, 65, 66,
84 Inventory adjustments...