NAC706.401994. Accounts for other nonoperating expenses.

     1. The account for interest expense must include all expenses for interest paid or accrued on short-term or long-term loans or notes payable.

     2. The account for loss on sale of assets, other than automotive equipment, must reflect any losses incurred from the sale of any equipment, other than automobiles, or improvements at a price below book value.

     3. The account for loss on investments must reflect any income from the sale or other disposition of an investment carried on the books of the limousine company as an asset.

     4. The account for miscellaneous other expenses must include any expenses not otherwise provided for in the uniform system of accounts for limousine operations.

     (Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002)