Sec. 32.4000  Instructions for balance sheet accounts--liabilities and 
          stockholders' equity.

    Liabilities and Stockholders' Equity Accounts to be Maintained by 
Class A and Class B telephone companies:

                                                                        
------------------------------------------------------------------------
                                                       Class A   Class B
                    Account title                      account   account
------------------------------------------------------------------------
Current liabilities:                                                    
    Accounts payable................................      4010      4010
    Notes payable...................................      4020      4020
    Advance billing and payments....................      4030      4030
    Customer's deposits.............................      4040      4040
    Current maturities--long-term debt..............      4050      4050
    Current maturities--capital leases..............      4060      4060
    Income taxes--accrued...........................      4070      4070
    Other taxes--accrued............................      4080      4080
    Net Current Deferred Operating Income Taxes.....      4100      4100
    Net Current Deferred Nonoperating Income Taxes..      4110      4110
    Other accrued liabilities.......................      4120      4120
    Other current liabilities.......................      4130      4130
Long-term debt:                                                         
    Funded debt.....................................      4210      4210
    Premium on long-term debt.......................      4220      4220
    Discount on long-term debt......................      4230      4230
    Reacquired debt.................................      4240      4240
    Obligations under capital leases................      4250      4250
    Advances from affiliated companies..............      4260      4260
    Other long-term debt............................      4270      4270
Other liabilities and deferred credits:                                 
    Other long-term liabilities.....................      4310      4310
    Unamortized operating investment tax credits--                      
     net............................................      4320      4320
    Unamortized nonoperating investment tax credits--                   
     net............................................      4330      4330
    Net noncurrent deferred operating income taxes..      4340      4340
    Net deferred tax liability adjustments..........      4341      4341
    Net noncurrent deferred nonoperating income                         
     taxes..........................................      4350      4350
    Other deferred credits..........................      4360      4360
    Deferred tax regulatory liability...............      4361      4361
    Other jurisdictional liabilities and deferred                       
     credits--net...................................      4370      4370
Stockholders' equity:                                                   
    Capital stock...................................      4510      4510
    Additional paid-in capital......................      4520      4520
    Treasury stock..................................      4530      4530
    Other capital...................................      4540      4540
    Retained earnings...............................      4550      
------------------------------------------------------------------------

[51 4550 FR 43499 , Dec. 2, 1986, as amended at  59 FR 9418 , Feb. 28, 1994]