Code of Massachusetts Regulations
220 CMR - DEPARTMENT OF PUBLIC UTILITIES
Title 220 CMR 50.00 - Uniform System Of Accounts For Gas Companies
BALANCE SHEET ACCOUNTS ASSETS AND OTHER DEBITS
3 - CURRENT AND ACCRUED ASSETS
Section 146 - Accounts Receivable from Associated Companies

Universal Citation: 220 CMR 50.00 MA Code of Regs 146
Current through Register 1531, September 27, 2024

These accounts shall include notes and drafts upon which associated companies are liable, and which mature and are expected to be paid in full not later than one year from the date of issue, together with any interest thereon, and debit balances subject to current settlement in open accounts with associated companies. Items which do not bear a specified due date but which have been carried for more than 12 months and items which are not paid within 12 months from due date shall be transferred to account 123, Investment in Associated Companies.

NOTE A. - On the balance sheet, accounts receivable from an associated company may be set off against accounts payable to the same company.

NOTE B. - The face amount of notes receivable discounted, sold or transferred without releasing the utility from liability as endorser thereon, shall be credited to a separate subdivision of this account and appropriate disclosure shall be made in financial statements of any contingent liability arising from such transactions.

Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.