Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 174667931X

URN:: urn:nbn:de:zbw-retromon-119897

Document type:: Monograph

Author:: Grunsky, Carl Ewald http://d-nb.info/gnd/10180959X

Title:: Valuation, depreciation and the rate base

Edition:: 2. ed., revised and extended

Place of publication:: New York

Publisher:: Wiley

Year of publication:: 1927

Scope:: X, 500 Seiten

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XII. The accounting system

Collection:: Economics Books

232 VALUATION, DEPRECIATION AND THE RATE-BASE ice, less a suitable allowance on account of the second-hand parts remaining therein. « When a unit of property other than land or equipment — such as a section of road, side or yard track, shop or power plant machine, building, or other structure — is retired from service and not replaced, the ledger value shall be credited to the appropriate property accounts at the time that the property is retired from service. The amount of this credit shall be con- currently charged as follows: “ An amount equal to the credit balance in the accrued depre- ciation balance-sheet account with respect to the property thus retired shall be charged to that account, and the remainder (less salvage and insurance recovered, if any), together with the cost of demolishing the property if demolished by or for the account of the carrier, shall be charged to the appropriate profit and loss account. The accounting for the salvage shall be in accordance with the disposition made of the material recovered.” Retirement of Land, Interstate Commerce Commission. — In the matter of land retired from use the Commission says: “ When any land, the cost of which is included in the accounts of this classification, is retired, the ledger value shall be credited to account ¢ Land for transportation purposes.’ If the land is retained by the carrier, its estimated value shall be charged to balance-sheet account ‘Miscellaneous physical property,” the necessary adjustment of the difference between the ledger value and the estimated value on account of the loss in the property due to its retirement from transportation service shall be made through Profit and Loss. If sold, the difference between the ledger value . . . and the amount received for the land shall be adjusted in Profit and Loss.” Engineering Account, Interstate Commerce Commission. — Relating to engineering on the construction of a railroad, the Commission says: « This account shall include the pay and expenses of engineers, assistants, and clerks engaged in the survey and construction of new lines and extensions, or in making additions to and better- ments of the carrier’s road, including wharves and docks. “ When employees . . . are engaged in the maintenance of the road, their pay and expenses while thus employed shall be charged to Operating Expenses.

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