Current through Register Vol. 54, No. 25, June 22, 2024
Section 149.44 - Other income and expense accounts (non-operating)(a)Other income. Other income accounts shall conform with the following: (1)Gain on sale of equipment-Includes gain realized upon disposition of a fixed asset.(2)Sale of farm supplies-Includes income from sale of farm supplies.(3)Interest received-Income derived from interest received.(4)Rental of equipment income-Includes income received from leasing refrigerator and other equipment to customers.(5)Other rents-Includes income from leasing other property.(b)Other expenses. Other expenses shall conform with the following:(1)Loss on sale of equipment-Includes losses sustained upon disposition of a fixed asset.(2)Cost of farm supplies-Includes cost of farm supplies sold.(3)Interest expense-Includes interest expenses incurred on any type of loan and interest paid as a result of Federal or State income tax assessments and so forth.(4)Repairs and maintenance, rental equipment-Includes materials and purchased services for general repairs and maintenance of equipment leased to customers.(5)Depreciation, rental equipment-Includes depreciation on equipment leased to customers.(6)Bad debts, rental equipment-Includes the amount charged as expense resulting from uncollectibles from equipment leased to customers.(7)Expenses associated with other rents-Includes expenses resulting from leasing other property.(8)Nondairy travel and entertainment-Includes travel and entertainment expense for other than dairy operations.(9)Contributions-Includes all contributions made to any organization for any purpose. No contributions can be charged as an operating expense.(10)Nondairy dues and subscriptions-Includes all dues to organizations with other than a strictly business purpose or to organizations which act to influence prices and all subscriptions to other than industry publications.(11)Other nondairy operations expense-Includes all other nondairy operations expense.(12)Nonrecurring expenses-Includes all expenses of an intermittent nature.