NAC706.849. Accounts for other nonoperating income.

     1. The account for interest earned includes any money earned from savings accounts, interest-bearing loans or notes receivable.

     2. The account for discounts earned includes any discounts earned as a result of timely, early or advance payments of bills. This account does not include discounts, obtained by quantity purchases or from a reduction of the manufacturer’s list price. Such discounts are considered “trade discounts,” and used as a reduction of original costs.

     3. The account for rental income includes remuneration received for leasing or renting out space primarily owned or leased by the operating taxicab company.

     4. The account for gain on sale of assets, except automotive equipment, includes any earnings from the sale of equipment or improvements other than automobiles, at a price above book value. (See subsection 14 of NAC 706.816.)

     5. The account for gain on investments reflects earnings from the sale of an investment carried on the books of the taxicab company as an asset.

     6. The account for miscellaneous other income includes any income not provided for elsewhere in these accounts.

     [Taxicab Auth., Uniform System of Accounts Reg. §§ 901-910, eff. 11-16-79]