Or. Admin. Code § 740-055-0210
Current through Register Vol. 64, No. 1, January 1, 2025
Section 740-055-0210 - Ledger and Journal(1) All household goods carriers shall keep and maintain a ledger in which shall be recorded in appropriate accounts the assets, liabilities, capital, surplus, revenues, expenses, other income, other deductions and all other accounts prescribed by the Uniform System of Accounts and necessary to meet the requirements in OAR 740-055-0310 and 740-055-0320.(2) Accounts shall be written up monthly and accruals stated on a monthly basis to permit preparation of financial exhibits from the books of record.(3) All accounts must be closed on December 31 of each year and the profit or loss determined and stated in the books of record.(4) All entries for which special journals have not been provided must be journalized in a general journal before posting to the ledger account. Entries must be fully explanatory and entered in sufficient detail to permit audit at any time. References to supporting papers and records must be specific and such subsidiary records and memoranda shall be filed and retained to support the entries in the general journal.Or. Admin. Code § 740-055-0210
PUC 135, f. 5-9-66, ef. 5-15-66 (Order No. 42332); PUC 148, f. 7-29-68, ef. 9-1-68 (Order No. 44783); PUC 156, f. 8-6-73, ef. 8-15-73 (Order No. 73-507); Renumbered from 860-038-0075); PUC 1-1982(Temp), f. & ef. 2-3-82 (Order No. 82-080); PUC 5-1982, f. & ef. 3-15-82 (Order No. 82-162); MCT 2-1996, f. & cert. ef. 2-16-96; Renumbered from 860-068-0075); MCT 3-1996, f. & cert. ef. 3-14-96; MCTB 7-2000, f. 12-15-00 cert. ef. 1-1-01; MCTD 3-2016, f. & cert. ef. 9/26/2016Stat. Auth.: ORS 184.616, 814.619, 823.011 & 825.232
Stats. Implemented: ORS 825.200, 825.202, 825.204, 825.224 & 825.515