Section 706.762 - Account for total depreciation and amortization allowance1. For the purpose of general ledgers, the account for total depreciation and amortization allowance must be treated as a single composite provision for depreciation and amortization. For the purpose of analysis, each company must maintain subaccounts in which this account is segregated according to the same account classification used in the fixed asset accounts.2. This account must be credited with the amounts charged to the functional accounts for depreciation and amortization expense.3. At the time of retirement or disposal of a depreciable or amortizable fixed asset, this account must be charged in the amount of the total accumulated provision related to the asset up to the date of retirement or disposal, and the accounts described in subsection 14 of NAC 706.816, subsection 4 of NAC 706.849 and subsection 2 of NAC 706.852 must be credited or charged as appropriate. These entries must be recorded with sufficient detail and description to permit ready identification, analysis and verification of all relevant facts.Nev. Admin. Code § 706.762
Taxicab Auth., Uniform System of Accounts Reg. § 240, eff. 12-24-70; A 11-16-79