Code of Massachusetts Regulations
220 CMR - DEPARTMENT OF PUBLIC UTILITIES
Title 220 CMR 50.00 - Uniform System Of Accounts For Gas Companies
LIABILITIES AND OTHER CREDITS
7 - PROPRIETARY CAPITAL
CAPITAL STOCK
Section 205 - Preferred Stock Subscribed

Universal Citation: 220 CMR 50.00 MA Code of Regs 205

Current through Register 1531, September 27, 2024

A. These accounts shall include the amount of legally enforceable subscriptions to capital stock of the utility. They shall be credited with the par value of the stock subscribed, exclusive of accrued dividends, if any. Concurrently, a debit shall be made to subscriptions to capital stock, included as a separate subdivision of account 143, Other Accounts Receivable, for the agreed price and any discount or premium shall be debited or credited to the appropriate discount or premium account. When properly executed stock certificates have been issued representing the shares subscribed, this account shall be debited, and the appropriate capital stock account credited, with the par value of such stock.

B. The records shall be kept in such manner as to show the amount of subscriptions to each class and series of stock.

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