tenance and operation of terminal facilities by the carrier such as salaries, wages (and related payroll taxes), rent, heat, light, power, repairs, dredging, and insurance for its owned or operated vessels or for the vessels of others.

(b) In instances where such services are performed by the carrier for its owned or operated vessels at agreed amounts, such agreed amounts shall be credited to account 890, "Interdepartmental credits for services and facilities," with a corresponding charge to account 200, "Unterminated voyage expense," or account 700, "Operating expense-Terminated voyages."

(c) Subsidiary accounts shall be maintained to show separately the principal classes of expense incurred in the operation of each terminal.

§ 282.865 Expense of cargo handling operations.

(a) This account shall include the gross expense incurred in the performance by the carrier of stevedoring and other cargo handling services such as checking, tallying, delivering, coopering, watching, etc. (and related payroll

taxes), for its owned or operated vessels or for the vessels of others.

(b) In instances where such services are performed by the carrier for its owned or operated vessels at agreed amounts, such agreed amounts shall be credited to account 890 "Interdepartmental credits for services and facilities," with a corresponding charge to account 200, "Unterminated voyage expense," or account 700, "Operating expense-Terminated voyages."

(c) Subsidiary accounts shall be maintained to show separately the principal classes of expenses incurred in the performance of stevedoring and other cargo handling operations at each port. § 282.875

Expense of tug and lighter

operations.

(a) This account shall include the gross expense incurred in the maintenance and operation by the carrier of tugs, lighters, barges, scows, launches, floating cranes, and similar floating equipment for its owned or operated vessels or for the vessels of others.

(b) In instances where such services are performed by the carrier for its owned or operated vessels at agreed amounts, such agreed amounts shall be credited to account 890, "Interdepartmental credits for services and facili

ties," with a corresponding charge to account 200, "Unterminated voyage expense," or account 700, "Operating expense-Terminated voyages."

(c) Subsidiary accounts shall be maintained to show separately the principal classes of expenses incurred in the maintenance and operation of such floating equipment at each port.

§ 282.885 Expense of other shipping operations.

(a) This account shall include the gross expense incurred in the performance by the carrier of repairs and any other services or operations incidental to the shipping business for its owned or operated vessels or for the vessels of others, and for which no other account is specifically provided.

(b) In instances where such services are performed by the carrier for its owned or operated vessels at agreed amounts, such agreed amounts shall be credited to account 890, "Interdepartmental credits for services and facilities," with a corresponding charge to account 200, "Unterminated voyage expense," or account 700, "Operating expense-Terminated voyages."

(c) Subsidiary accounts shall be maintained to show separately the principal classes of expense incurred in the performance of repairs and other auxiliary operations at each port.

§ 282.890 Interdepartmental credits for services and facilities.

(a) This account shall be credited with agreed amounts concurrently charged to account 200, "Unterminated voyage expense," or account 700, “Operating expense-Terminated voyages," representing services performed and facilities furnished by the carrier for its owned or operated vessels, the expenses for which are included in the following accounts: Account 855. Expense of terminal opera

(a) This account shall include all administrative and general expenses incurred in the operation of the business for which no other specific account is provided, including the corresponding expenses of branch houses.

(b) Subsidiary accounts shall be maintained separately by offices.

(c) This account shall be subdivided according to the classification of expenses in accounts 901-944, inclusive. § 282.901 Salaries of officers.

This account shall include the compensation of officers and directors, including fees of receivers and trustees, commissions in lieu of salaries and taxes computed on basis of payroll such as old age benefits, unemployment compensation, and similar social security taxes. § 282.902 Wages of employees.

This account shall include the compensation of all employees other than officers and directors, including taxes computed on basis of payroll such as old age benefits, unemployment compensation and similar social security taxes. § 282.905 Legal and accounting fees and expenses.

This account shall include fees, retainers, and other expenses for professional services of attorneys, auditors, accountants, and others, including cost of law books, legal forms, testimony, notarial and witness fees, law and court expenses, and audit reports of investigations and lawsuits. § 282.910

Rent, heat, light, and power. This account shall include the cost of light, heat, power, water, and air conditioning; also rents payable for use of buildings, general offices, and storage space.

printing used in general offices, including the cost of printing annual reports, contracts, leases, passes, and tariffs.

§ 282.925 Membership dues and subscriptions.

This account shall include membership dues and fees in associations and subscriptions to periodicals and newspapers. This account shall also include all expenses incurred in administering pooling agreements. (Contributions of revenues to pooling agreements shall be charged to account 850, "Contributions to pools.")

§ 282.929 Entertaining and solicitation. This account shall include expenses of canvassing and solicitation in connection with the procurement of traffic and all entertaining expenses.

§ 282.930 Traveling expenses.

This account shall include all traveling expenses of officers and their employees on official business of the company. § 282.931 Insurance and bond premiums.

This account shall include premiums on insurance such as burglary, theft, robbery, etc., and premiums on fidelity bonds on officers and employees.

§ 282.932 Pensions and relief.

(a) This account shall include pensions and gratuities paid to retired or incapacitated employees, or heirs of employees, and expenses in connection therewith; also cost of life and benefit insurance on employees.

(b) A carrier may account for pensions on an accrual basis when funded under an established retirement plan whereby it definitely agrees to pay pensions to its retired employees.

(c) No charges shall be made to this account in anticipation of discretionary pension payments in the future. (Contributions to welfare plans of seamen shall be charged to account 709, "Contributions-Welfare plans.") § 282.933

Postage.

This account shall include the cost of postage for mailing official business, including parcel post and registered mail, not provided for elsewhere.

§ 282.934 Maintenance of office buildings and equipment.

This account shall include the cost of repairing general office buildings and

§ 282.955

Taxes; miscellaneous.

(a) This account shall include all taxes other than Federal income taxes, sales taxes, and taxes computed on basis of payrolls such as old age benefits, unemployment compensation, and similar social security taxes.

(b) Sales taxes and taxes assessed against carriers for electrical energy, telegraph, telephone, radio, cables, checks, rental and safe deposit boxes, motor vehicle licenses, etc., shall be included in the respective accounts to which the cost of the material or services is charged. Social security taxes are to be included in the respective accounts to which the payrolls are charged.

§ 282.972 Amortization; leaseholds.

This account shall include the amortization of the cost of acquiring long-term leases, and the cost of alterations to, and fixtures installed in, leased property, with a corresponding credit to account 385, "Leaseholds."

§ 282.984 Depreciation; other floating equipment.

The account shall include the accrual of depreciation of tugs, lighters, barges, scows, launches, floating cranes, and similar floating equipment, with a corresponding credit to account 338, "Reserve for amortization and depreciation-Other floating equipment." § 282.987 Depreciation; terminal property and equipment.

This account shall include the accrual of depreciation of terminal buildings, shore cranes, trucks, furniture and fixtures, and other terminal gear and equipment with a corresponding credit to account 344, "Reserve for amortization and depreciation; Terminal property and equipment."

§ 282.988 Depreciation; other shipping property and equipment.

This account shall include the accrual of depreciation of property and equipment incident to shipping and its auxiliary operations for which no other account has been specifically provided, including stevedoring and other cargo handling gear and equipment, repair yards and equipment and highway vehicles, with a corresponding credit to account 350, "Reserve for amortization and depreciation-Other shipping property and equipment."

OTHER DEBIT ACCOUNTS

§ 282.960 Interest expense.

(a) This account shall include all interest expense accrued. It shall not in

Amortization of any deferred charges for which no other account is specifically provided shall be included in this account.

§ 282.975 Doubtful notes and accounts receivable.

(a) This account shall be charged with provisions for reserves against all notes and accounts receivable considered doubtful of collection.

(b) Separate subsidiary accounts shall be maintained for doubtful accounts of related companies as distinguished from those of non-related companies.

§ 282.979 Miscellaneous deductions from income.

This account shall include amounts properly chargeable to income, not provided for elsewhere, such as:

Calls for bids in accordance with provision of mortgages.

Cost of advertising bonds drawn for redemption.

Losses due to conversion of foreign currencies. (Transferred from account 050, "Foreign exchange account.") Premiums on bonds to assure performance of contracts when chargeable to income. Taxes on interest on funded debt payable at source under tax-free covenants. Trusts, current expenses of maintaining, and administering.

Trustees' commissions and fees for paying bond interest on coupons and expenses connected with such payments.

§ 282.995 Expense of non-shipping operations.

(a) This account shall include the gross expense, other than amortization and depreciation, incurred in ventures other than shipping and shipping auxiliary operations.

(b) Separate accounts shall be maintained for each enterprise and location. § 282.996 Depreciation;

Depreciation;

non-shipping

property and equipment.

The annual or other periodical accrual of depreciation of property and equipment used in ventures other than shipping and shipping auxiliary operations shall be charged to this account with a corresponding credit to account 354, "Reserve for amortization and depreciation-Non-shipping property and equip

ment."

CLEARANCE ACCOUNTS

§ 282.000 List of clearance accounts.

(a) This group of accounts is designed to accommodate transactions which cannot be allocated directly to balance sheet or income and expense accounts until such transactions have been completely accounted for. In the preparation of periodical financial and operating statements, it is essential that these clearance accounts be analyzed and the balances reflected therein be distributed to appropriate account classifications on such statements.

(b) The balances in this group of accounts applicable to terminated voyages, or other accounting units of a closed fiscal year, must not be carried forward to the succeeding fiscal year.

§ 282.001 Masters and pursers.

(a) This account shall be charged with amounts advanced to or collected by masters and pursers. The account shall be credited with the net amount of vessels' payrolls, with cash advances to members of the crew, with allowable expenses incurred, with endorsed travelers checks, and unexpended cash balances returned.

(b) Subsidiary accounts shall be maintained alphabetically by masters and pursers, and a separate account maintained for each voyage or other accounting unit. § 282.005

Allotments on wages of crews. This account shall be charged with payments made to allottees of crews and shall be credited with deductions made therefor on vessels' payrolls.

§ 282.010 Agents and branch houses.

(a) This account shall serve as a clearance account for all current transactions with foreign and domestic agents, and branch houses of the carrier. The account shall be charged with cash advances to agents and branch houses, and with freight and other voyage revenue collectible by the agent or branch house in instances where arrangements are made with them to disburse vessels therefrom. Freight and other voyage revenues collectible by agents who are required to remit in full shall be recorded in account 151, "Traffic accounts receivable." This account shall be credited with remittances by the agents or branch houses, and with approved disbursements made for the account of the carrier.

(b) Subsidiary accounts shall be maintained alphabetically by names of agents or branch houses.

§ 282.012 Sub-agency operations.

(a) This account shall serve as a clearance account for all current transactions with other principals for whom the carrier acts as agent.

(b) The balances in this account shall be reflected in account 165, "Accounts receivable-Miscellaneous," and account 421, "Trade accounts payable," for balance-sheet purposes.

§ 282.015 Related companies; accounts

current.

(a) This account shall be charged with receivables and credited with payables which are customarily subject to current

settlement. Under no circumstances shall loans, advances, or other transactions, the settlement of which is deferred beyond one year, be recorded in this account.

(b) The balances in this account shall be reflected in account 140, "Notes and accounts receivable - Related companies," or account 415, "Notes and accounts payable-Related companies," for balance-sheet purposes.

(c) Subsidiary accounts shall be arranged alphabetically by companies, and a description of each transaction shall be reflected in the accounts.

§ 282.025 Collections and deposits for passenger transportation.

(a) Gross passenger ticket sales and deposits, including those for future reservations, hotel accommodations, shore excursions, passenger taxes, etc., shall be credited to this account.

(b) As transportation is furnished to passengers by vessels of the carrier, this account shall be charged and account 500, "Unterminated voyage revenue," credited. Deposits or collections for other purposes, including commissions earned or payable incident thereto, shall be cleared from this account as soon as practicable to appropriate accounts designated in the Chart. The credit balances remaining in this account shall be reflected in account 495, "Advance ticket sales and deposits," for balance sheet purposes.

(c) Subsidiary accounts shall be maintained in sections corresponding to the classifications shown on the daily ticket sales report, examples of which are: Prepaid orders, one-way tickets, roundtrip tickets, exchange orders, railroad fares, hotel reservations, sightseeing tours, head tax, U. S. Government stamp tax, foreign government passenger taxes, commissions due agents and brokers, and commissions earned.

§ 282.030 Collections on unrecorded freight manifests.

(a) This account shall be credited with all collections of freight revenue from shippers or consignees prior to the recording of the revenue manifests. When the manifest is recorded, the balance in this account applicable thereto shall be cleared with a corresponding credit to account 500, "Unterminated voyage revenue."

(b) Subsidiary accounts shall be maintained alphabetically by vessels and