Section 706.401951 - Current assets: Account for inventory supplies1. The account for inventory supplies must include the inventories of: (a) All gasoline and other fuel in storage tanks at the end of the accounting period, computing value at the lower of cost or market; and(b) All oil, tires, batteries, radio parts, shop parts and small tools on hand at the end of the accounting period, computing value at the lower of cost or market.2. Appropriately titled subaccounts must be maintained for materials and supplies relating to each of the functional divisions maintained by the company, including, without limitation, operating, dispatching, shop and garage, and general.3. The differences between the opening inventories at the beginning of an accounting period and the year-end inventories must be recorded as adjustments to the following accounts for operating expenses described in subsection 6 of NAC 706.401982: (d) Account for repairs and maintenance.Nev. Admin. Code § 706.401951
Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002