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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 18 - Conservation of Power and Water Resources |
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Chapter I - Federal Energy Regulatory Commission, Department of Energy |
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SubChapter C - Accounts, Federal Power Act |
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Part 101 - Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act |
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Subpart A - Uniform System of Accounts Prescribed for Public Utilities and Licensees Subject to the Provisions of the Federal Power Act |
§ 101.205 - Preferred stock subscribed (Major only).
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A. These accounts shall include the amount of legally enforceable subscriptions to capital stock of the utility. They shall be credited with the par or stated value of the stock subscribed, exclusive of accrued dividends, if any. Concurrently, a debit shall be made to subscriptions to capital stock, included as a separate subdivision of account 143, Other Accounts Receivable, for the agreed price, and any discount or premium shall be debited or credited to the appropriate discount or premium account. When properly executed stock certificates have been issued representing the shares subscribed, this account shall be debited, and the appropriate capital stock account credited, with the par or stated value of such stock.
B. The records shall be kept in such manner as to show the amount of subscriptions to each class and series of stock.