Section 706.723 - Fixed assets: Land account1. The land account includes the cost of all land devoted to the company's taxicab operations. In addition to the original price of the land, this account must include all costs incidental to the purchase when acquired, if paid by the purchaser, such as agent's commissions, escrow fees, title fees, liens satisfied to clear title and prorated tax expense.2. Where special assessments for public improvements provide for deferred payments, the full amount of the assessments must be charged to the appropriate land account and the unpaid balance must be carried in an appropriate liability account. Interest on unpaid balances must be charged to the interest account. If any part of the cost of public improvement is included in the general tax levy, that amount must be charged to the appropriate tax account and not to this account.Nev. Admin. Code § 706.723
Taxicab Auth., Uniform System of Accounts Reg. § 201, eff. 12-24-70; A 11-16-79