(a) This system of accounts provides separate accounts for discount, expense, and premium on capital stock. These accounts shall be subdivided for each class and series of capital stock issued by the utility. Expenses applicable to capital stock shall not be added to capital stock discount nor deducted from premium on capital stock.

(b) In stating the balance sheet, discount and expense and premium shall not be set-off against each other.

(c) General levies or assessments against holders of stock with par value shall be credited to the premium account for the particular class and series of capital stock so assessed; levies or assessments against holders of stock without par value shall be credited to the account for the particular class and series of stock so assessed.

(d) If discount or expense on capital stock is charged off in whole or in part, prior to retirement of the stock, account 414, Miscellaneous Debits to Surplus, shall be debited.

(e) When capital stock which has been actually issued by the utility is reacquired or retired, the difference between the amount paid therefor upon reacquirement by the utility and the par value (amount at which included in account 200, Common Capital Stock, or account 201, Preferred Capital Stock, in the case of stock without par value) plus the premium or less the discount and expense originally entered in respect thereto and not charged off, shall be debited or credited, as the case may be, to account 270, Unearned Surplus; provided, however, that debits shall be charged to account 414, Miscellaneous Debits to Surplus, if the amounts thereof exceed the balance in unearned surplus; and provided further, that in no event shall debits in excess of accumulated credits from the retirement of stock be charged to unearned surplus.