ployees which are collectible in the ordinary course of business within one year. (b) Subsidiary accounts shall be maintained alphabetically by names of debtors. [G.O. 22, Rev., 15 F.R. 7935, Nov. 21, 1950, as amended by Amdt. 4, 24 F.R. 3325, Apr. 29, 1959] § 282.169 Accrued accounts receivable. (a) This account shall include monthly or other periodical accruals of unmatured receivables, including interest, rentals, dividends, charter hire, except the accrual of interest on securities on deposit in account 301, "Capital reserve fund," and account 302, "Special reserve fund," and all other unaudited current items receivable accrued to the date of the balance sheet. (b) No amounts representing interest, dividends, or rents receivable shall be included in this account unless collection thereof is reasonably assured by past experience, anticipated provisions, or otherwise. (c) No dividends or other returns on securities issued or assumed by the company shall be included in this account. (d) Interest, dividends, and rents receivable from related companies shall be included in account 140, "Notes and accounts receivable-Related companies." (e) This account shall be subdivided as follows: Interest, rentals, dividends, charter hire, etc. § 282.170 Inventories. (a) This account shall include the cost, less trade discounts, of all unissued and unapplied materials, articles in process of manufacture by the carrier, fuel, tools, stationery, and other stores and supplies, but excluding fuel, stores, and supplies on board vessels, and spare parts includible in account 362, "Spare parts." (b) For balance sheet purposes only, this account shall include the balances on unterminated voyages in clearing account 040, "Bar accounts," and clearing account 045, "Slop chest account." (c) The costs chargeable to this account are the actual costs of the material and supplies at point of free delivery, plus custom duties, sales and other taxes, insurance, inspection, special tests, loading and unloading, and transportation charges paid for transporting the material from the free point of delivery to the carrier's line. No charge shall be made to this account for the cost of transporting material and supplies when performed by the carrier. (d) An annual inventory of material and supplies shall be taken, except in instances where inventories are waived by the Interstate Commerce Commission or the Maritime Administration, and the necessary adjustments made to bring this account into harmony with actual inventory balance. In effecting such adjustments, determined differences for important classes of material shall be equitably assigned among the accounts to which such classes are ordinarily chargeable. Other differences shall be equitably apportioned among the primary accounts. (e) This account shall be subdivided as set forth in §§ 282.171, 282.175, 282.180, 282.185, and 282.189. § 282.171 Vessels stores, supplies, and equipment ashore. (a) This account shall include the cost of all stores, supplies, and equipment held for delivery to vessels at some future date, including quantity purchases warehoused and delivered to vessels as required. (b) Subsidiary accounts shall be so maintained as to show location of inven- | tories. § 282.175 Other shipping inventories. (a) This account shall include the cost of all stores, supplies, and equipment held for use in the conduct of the shipping business and its auxiliaries, such as terminal, cargo handling, tug and lighters, and other incidental shipping operations, for which no other account is specifically provided. (b) Subsidiary accounts shall be so maintained as to show location of inventories. § 282.180 Non-shipping inventories for sale. In instances of companies engaged in non-shipping enterprises, inventories of merchandise for sale shall be included in this account. The account shall be maintained so as to show separately the major classes of inventory such as raw materials, work in process, and finished goods. § 282.185 Non-shipping inventories for consumption. This account shall include the cost of all stores, supplies, and equipment, held for use in the conduct of non-shipping enterprises, other than merchandise for sale. § 282.189 Miscellaneous inventories. This account shall include the cost of all stores, supplies, and equipment acquired for use in the conduct of the business, which cannot be allocated as between shipping and non-shipping enterprises. § 282.190 Other current assets. This account is provided for balance sheet purposes and shall be subdivided as set forth in §§ 282.191, 282.192 and 282.199. [G.O. 22, Rev., Amdt. 3, 28 F.R. 6283, Aug. 15, 1958] § 282.191 Prepaid current insurance. This account shall include the unexpired amount of insurance premiums prepaid, or recorded as a liability in advance of payment, but only to the extent that such premiums apply to the period within one year of the date of the balance sheet and are properly chargeable within that period to account 200 "Unterminated voyage expense," or to other accounts appropriate for insurance expense. This account shall be subdivided to show separately prepayments on the several classes of insurance. [G.O. 22, Rev., Amdt. 3, 23 F.R. 6283, Aug. 15, 1958] § 282.192 Other prepaid current ex penses. This account shall include the amount of prepaid current expenses, such as interest, taxes, rentals, advertising, charter hire, and similar expense not otherwise specifically provided for, but only to the extent that such prepayments apply to the period within one year from the date of the balance sheet and are properly chargeable within that period to account 200, "Unterminated voyage expense," or to other accounts appropriate for such expenses. Minor items may be charged directly to the appropriate expense accounts. [G.O. 22, Rev., Amdt. 3, 23 FR. 6283, Aug. 15, 1958] 66-102-67- -8 (a) This account shall be charged with all vessels expenses while voyages are in progress. After each voyage has terminated, and substantially all expenses have been recorded, the balance in the account shall be transferred to account 700, "Operating expense-Terminated voyages." (b) In instances where inventories of vessels stores, supplies, and/or equipment are taken and priced at the end of each voyage, the value of such inventories shall be credited in this account to the terminating voyage and charged to the succeeding voyage. (c) Subsidiary accounts are to be maintained by vessels and consecutively by voyages, and according to the classification of expenses shown in the chart of accounts. § 282.300 Special funds and deposits. This account shall be subdivided as set forth in §§ 282.301-282.304, 282.306, 282.309, and 282.312. § 282.301 Capital Reserve Fund. This account shall be subdivided as follows: (a) Cash and securities, non-trust. This account shall be charged with cash and the approved value of securities deposited in this fund, and shall be credited with withdrawals therefrom in accordance with the provisions of section 607 (b) of the Merchant Marine Act, 1936, as amended, and under such rules and regulations as the Maritime Administration may issue from time to time. Subsidiary accounts are to be subdivided as to depositories or trustees, as the case may be, and further subdivided to show the amount of (1) cash and (2) marketable securities. (b) 301-2 Discounts and premiums, non-trust. This account may be charged with accumulation of any discount and may be credited with amortization of any premium on securities, at the time of accrual or collection of interest thereon, with contra entry in Account 680, "Interest Income-Special Funds and Deposits", if it is the practice of the carrier to adjust that account to a yield basis. When such securities are disposed of, any balance applicable thereto in this account shall be transferred to Account 301-1. (c) 301-3 Common Stock Trust. This account shall be charged with the amount of the non-trust portion of the Capital Reserve Fund transferred to the Capital Reserve Fund-Common Stock Trust, the acquisition cost of common stock in which the trust is invested, the income, capital gains, and other principal, and shall be credited with withdrawals therefrom and capital losses in accordance with the provisions of section 607 (d) of the Merchant Marine Act, 1936, as amended, and under such rules and regulations as the Maritime Administrator may issue. Subsidiary accounts of the Capital Reserve Fund-Common Stock Trust are to be maintained to record cash, common stocks, and other principal. [G.O. 22, Rev., Amdt. 2, 20 F.R. 8199, Nov. 1, 1955, as amended by Amdt. 5, 25 F.R. 13892, Dec. 29, 1960] § 282.302 Special Reserve Fund. This account shall be subdivided as follows: (a) 302-1 Cash and securities, nontrust. This account shall be charged with cash and the approved value of securities deposited in this fund, and shall be credited with withdrawals therefrom in accordance with the provisions of section 607 (c) of the Merchant Marine Act, 1936, as amended, and under such rules and regulations as the Maritime Administration may issue from time to time. Subsidiary accounts are to be maintained as described in account 301-1. (b) 302-2 Discounts and premiums, non-trust. This account may be charged with accumulation of any discount and may be credited with amortization of any premium on securities, at the time of accrual or collection of interest thereon, with contra entry in Account 680, "Interest Income-Special Funds and Deposits", if it is the practice of the carrier to adjust that account to a yield basis. When such securities are disposed of, the balance applicable thereto in this account shall be transferred to Account 302-1. (c) 302-3 Common Stock Trust. This account shall be charged with the amount of the non-trust portion of the Special Reserve Fund transferred to the Special Reserve Fund-Common Stock Trust, the acquisition cost of common stock in which the trust is invested, the income, capital gains, and other principal, and shall be credited with withdrawals therefrom and capital losses in accordance with the provisions of section 607 (d) of the Merchant Marine Act, 1936, as amended, and under such rules and regulations as the Maritime Administrator may issue. Subsidiary accounts of the Special Reserve Fund-Common Stock Trust are to be maintained to record cash, common stocks, and other principal. [G.O. 22, Rev., Amdt. 2, 20 F.R. 8199, Nov. 1, 1955, as amended by Amdt. 5, 25 FR. 13892, Dec. 29, 1960] § 282.303 Construction reserve fund. (a) This account shall be charged with cash and the cost of approved securities deposited in such fund, and shall be credited with withdrawals therefrom in accordance with the provisions of section 511 of the Merchant Marine Act, 1936, as amended, and section 112 (b) of the Internal Revenue Code, and other Internal Revenue Acts. It shall also include accretions on investments in such fund when retainable therein. (b) Subsidiary accounts are to be maintained as described in account 301. § 282.304 Insurance funds. (a) This account shall include cash, marketable securities, and other quick assets placed on deposit or in the hands of trustees to guarantee the satisfaction of obligations for losses in instances where the carrier is a self-insurer in whole or in part. (b) Subsidiary accounts shall be maintained by depositories or trustees, as the case may be, and further subdivided as to (1) cash, and (2) marketable securities. § 282.306 Debt retirement funds. (a) This account shall include cash. marketable securities. and other quick assets placed on deposit, or in the hands of trustees as a sinking fund to meet obligations maturing in the future, or to carry out such operations as the retirement of preferred stock or the purchase of serial bonds. (b) Subsidiary accounts shall be maintained by depositories or trustees, further subdivided to show cash or marketable securities and purposes of the fund. § 282.307 Escrow funds. This account shall be charged with the amounts required to be deposited in the Escrow fund and credited with disbursements therefrom, in connection with the insurance of loans and mortgages financed by sale of bonds to the general public, pursuant to the provisions of section 1111 of the Merchant Marine Act, 1936, as amended, and/or the provisions of contracts or agreements as may be entered into. These funds shall be reported separately and maintained in accordance with such rules and regulations as the Maritime Administrator may issue. [G.O. 22, Rev., Amdt. 5, 25 F.R. 13892, Dec. 29, 1960] § 282.308 Construction funds. This account shall be charged with the amounts required to be deposited therein, representing the difference between the principal of insured bonds and the principal amount required to be deposited in the Escrow fund or such other amounts required by contracts or agreements entered into, and shall be credited with authorized disbursements therefrom. These funds shall be reported separately and maintained in accordance with such rules and regulations as the Maritime Administrator may issue. [G.O. 22, Rev., Amdt. 5, 25 F.R. 13892, Dec. 29, 1960] (a) This account shall include cash, marketable securities, and other quick assets appropriated for replacement of unsubsidized vessels (except in instances where account 303, "Construction reserve fund," is applicable), to fund reserves for pensions, and any other special funds for which no specific account is provided. (b) Subsidiary accounts shall be maintained for each class of fund by depositories or trustees, and further subdivided to show (1) cash, and (2) marketable securities. § 282.310 Restricted funds. This account shall be established at the time of the first deposit required therein, and shall be charged with deposits pursuant to the provisions of contracts or agreements. This account shall be credited with authorized withdrawals therefrom. These funds shall be reported separately and maintained in accordance with such rules and regulations as the Maritime Administrator may issue. [G.O. 22, Rev., Amdt. 5, 25 F.R. 13892, Dec. 29, 1960] § 282.312 Special and guaranty deposits. (a) This account shall include cash and the cost of securities deposited to guarantee the performance of con ference and similar agreements; also deposits in lieu of mortgaged property sold, and other trust deposits, to be held until equivalent property is acquired or pending other disposition. This account shall also include deposits on containers, such as oil drums, ammonia cylinders, etc. (b) Subsidiary accounts shall be maintained by depositories. § 282.315 Investments. This account shall be subdivided as set forth in §§ 282.316, 282.320, 282.325, 282.328, and 282.329. § 282.316 Securities of related companies. This account shall include the investment in securities issued or assumed by related companies. § 282.320 Non-current receivables; related companies. (a) This account shall include all loans, advances, and other receivables from related companies for other than services rendered, supplies furnished, and other transactions customarily subject to current settlement. (b) Subsidiary accounts shall be maintained by companies and shall show all essential detail. § 282.325 Cash value of life insurance. This account shall include the cash surrender value of life insurance policies, under which the carrier is the beneficiary, less the amount of any loans which have been obtained on such policies and not repaid. § 282.328 Other investments. This account shall include the investment in unpledged securities of other than related companies, including investment advances to companies and individuals, and miscellaneous investments not provided for elsewhere. § 282.329 Reserve for revaluation of investments. (a) This account shall be credited at the close of each accounting period with amounts necessary to reflect the decline in value of securities and other assets held as investments, where there appears to be a permanent impairment in their value, by contra charge to account 599, "Earned surplus-Unappropriated." (b) When securities are disposed of, the reserve balance in this account applicable to such securities shall be charged hereto. § 282.330 Property and equipment. (a) This account shall include the cost of acquisition or construction, including additions and betterments, of property and equipment owned by the carrier; also the amount of appreciation, if any, which the carrier is permitted to record. (Carriers coming within the jurisdiction of the Interstate Commerce Commission must secure the approval of that Commission before appreciating the value of any vessels or equipment.) (b) This account shall be subdivided as set forth in §§ 282.331, 282.332, 282.337, 282.338, 282.343, 282.344, 282.349, 282.350, 282.353 282.354, and 282.359. § 282.331 Floating equipment; vessels. (a) This account shall include the cost of construction or acquisition, including additions and betterments, of vessels (steamships and motorships) and of appurtenances, furniture, and fixtures necessary to equip them for service, including inspection, trial runs, and tests. (b) As regards vessels with respect to which an operating-differential subsidy is paid, capitalizable costs must be determined in accordance with applicable orders, rules, and regulations prescribed or adopted by the Maritime Administration. be (c) Subsidiary accounts shall maintained in such manner as to show by vessels the original cost to the carrier and cost of additions and betterments. § 282.332 Reserve for amortization and depreciation; vessels. (a) This account shall be credited with all depreciation on vessels charged to account 981, "Depreciation-Floating equipment-Vessels," and with amortization of appreciation on vessels charged to account 595, “Appreciation surplus." (b) Credits to this account applicable to subsidized vessels shall be computed on a twenty-year life expectancy, except in instances where some other basis is specifically authorized by the Maritime Administration, with such allowances for residual values as approved by that Administration, and in accordance with applicable orders, rules, and regulations prescribed or adopted by the Maritime Administration. (c) Subsidiary accounts maintained by vessels. § 282.337 shall be Other floating equipment. (a) This account shall include the cost of construction or acquisition, including additions and betterments, of other floating equipment, such as tugs, barges, scows, launches, lighters, floating cranes, etc., and of appurtenances, furniture, and fixtures necessary to equip for service including inspection, trial runs, and tests. (b) Subsidiary accounts shall be maintained in such manner as to show the foregoing information by the various kinds of other floating equipment. § 282.338 Reserve for amortization and depreciation; other floating equip ment. (a) This account shall be credited with all depreciation charged to account 984, "Depreciation-Other floating equipment," and with amortization of any appreciation thereof. (b) Subsidiary accounts should be maintained in the same manner as the corresponding accounts supporting account 337. § 282.343 Terminal property and equip ment. (a) This account shall include the cost of construction or acquisition, including additions and betterments, and any appreciated book value of terminal, land, buildings (including improvements to property under longterm lease), shore cranes, trucks, furniture and fixtures, and other terminal gear and equipment. (b) Subsidiary accounts shall be subdivided as between the various kinds of property and equipment, and shall be maintained in such manner as to show location, original cost, cost of additions and betterments, and any appreciation of book value. § 282.344 Reserve for amortization and depreciation; terminal property and equipment. (a) This account shall be credited with all depreciation on terminal property and equipment which is charged to account 987, "Depreciation-Terminal property and equipment" and with amortization of any appreciation thereof. (b) Subsidiary accounts shall be maintained in the same manner as the corresponding accounts supporting account 343. § 282.349 Other shipping property and equipment. (a) This account shall include the cost, cost of additions and betterments, |