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V 2 The differences represent equipment carried in L.V.L.& W.C©• Investment Account 11, “Office Furniture and Miscellaneous Property - Nevada" which were not reported as being used in water service in the reports to the P.S.C.N. as shown below: The sub-total ledger values and the 194-9 depreciation accruals are shown as items 5(d) and (e) on sheet 1 of my letter to you of April 14, 195©, and are further referred to on sheet 2 of that letter# The Chevrolet truck (1942) was retired during the year 1949} consequently the depreciation accruals of $894#00 were not included in the balance as of December 31 of that year# preciation on pipe lines, you will note a difference of $6,977*18 as of December 31, 1949} between the amount recorded in the accounts of the L.V.L.& W#Co. and reported to the P#S#C#N#, and the amount of such depreciation allowed for federal income tax purposes as shown on the depreciation statement furnished you with my letter of April 14, 1950} which is summarized below: As recorded in the accounts of - L.V.L.& W.Co# and reported to P#S#C#N# for Account 99 $68 944.12 As allowed on Schedule "J" in prior years $55 761*99 There were no similar differences for amortization on pipe lines# the fact that to December 31} 1946, accruals were based on a 50 year service life, except for the years 1941 and 1942 when an 80 year service life was used, for all of the water pipe lines as a unit# As each water pipe line extension was made, depreciation was accrued the first year on their costs based on such service lives; however, the following year their costs were added to the total pipe line investment subject to depreciation as of the end of the previous year, and thereafter, depreciation was accrued on the basis of spreading the remaining undepreciated value over the remaining service life for all of the water pipe lines as a unit# Description Chevrolet Sedan (1941) Oldsmobile " (1948) Sub-total Chevrolet truck (1942) Total As information with respect to the development of de- As allowed for year 1940 Difference The excess depreciation accrual on the books is due to