Prepare accounting entries for monetary funds of 700,000 yuan
He only knew that the monetary capital was 700,000 yuan, but he did not know the specific business scenario, so he could not accurately prepare accounting entries. If the monetary capital of 700,000 yuan is received, assuming it is a bank deposit, the accounting entry is: borrow: bank deposit 700,000; loan: related accounts (such as main business income, paid-in capital, etc., depending on the source of funds) 700,000. If the monetary fund is 700,000 yuan, assuming that it is a bank deposit to pay for the goods, the accounting entry is: borrow: accounts payables (or other related accounts) 700,000; loan: bank deposit 700,000. Read more exciting novels for free
Prepare relevant accounting entries for construction units
The following are the common entries for construction units: * * 1. Finance-related ** 1. * * Received funds ** - In the case of loans or other payables: - Borrow: Bank deposit - Credits: Other payables - In the case of paid-in capital: - Borrow: Bank deposit - Credits: Paid-in Capital - If it is a short-term loan: - Borrow: Bank deposit - Credits: short-term loans 2. * * Advance payment ** - * * No receipt ** - * * When receiving payment **: - Borrow: Bank deposit - Credits: Advance Receives-Customer - * * Prepaid tax at the location of the project or the organization (declare at the location of the organization)**: - Generally, 2% of the subcontracted balance will be deducted according to the amount received: - Borrowing: Taxes payable-advance payment of vat - Credits: Bank deposits - Simple tax calculation will deduct 3% of the subcontracted balance from the amount received: - B: Taxes payable-simple tax calculation - Credits: Bank deposits - At the same time, regarding the city construction tax, education surcharges, local education surcharges, etc.: - Borrowing: Taxes and fees payable-urban construction tax - Borrowing: Taxes Payable-Education Surcharge - Borrow: Taxes and fees payable-local education fees, etc. - Borrowing: Taxes payable-income tax payable - Borrowing: Taxes and Surcharges (Stamp Duty) - Credits: Bank deposits - * * Give me the receipt ** - * * Prepaid tax at the location of the project or the organization (declare at the location of the organization)**: - Generally, 2% of the subcontracted balance will be deducted according to the amount received: - Borrowing: Taxes payable-advance payment of vat - Credits: Bank deposits - Simple tax calculation will deduct 3% of the subcontracted balance from the amount received: - B: Taxes payable-simple tax calculation - Credits: Bank deposits - At the same time, regarding the city construction tax, education surcharges, local education surcharges, etc.: - Borrowing: Taxes and fees payable-urban construction tax - Borrowing: Taxes Payable-Education Surcharge - Borrow: Taxes and fees payable-local education fees, etc. - Borrowing: Taxes payable-income tax payable - Borrowing: Taxes and Surcharges (Stamp Duty) - Credits: Bank deposits - * * When receiving payment **: - Borrow: Bank deposit - Credits: Advance Receives-Customer - * * Invoiced tax (can also be done at the end of the month)**: - Credits: taxes payable-vat payable-output tax (9%) - Credits: Taxes payable-sales tax to be transferred (negative 9%) * * 2. Materials ** 1. * * Materials purchased and stored ** - * * Material warehouse receipt not received **: - Borrowing: raw material-main material (tax not included) - Borrowing: raw materials-auxiliary materials (excluding tax) - Borrow: raw materials--hardware and electrical materials (tax excluded) - Credits: accounts payable-estimation-XXX units - * * After receiving the receipt, the red-ink offset amount will be recorded as a negative number and will be credited according to the amount of the receipt ** - * * Reverse Original Entry **: - [Borrowed: raw material-main material (red words are flushed back)] - [Borrowed: raw materials-auxiliary materials (red words will be returned)] - [Borrowed: raw materials--hardware and electrical materials (red words rushed back)] - Credits: accounts payable-estimation-XXX units (red words offset) - * * According to the amount of the bill **: - Borrowing: raw material-main material - Borrowing: raw materials-auxiliary materials - Borrowing: raw materials---hardware and electric materials - Borrowing: Taxes payable-input tax to be certified (taxes payable-value-added tax-input tax) - Credits: accounts payable-supplier 2. * * Material payment **: - Borrowing: Receivable (Advance)-Customer - Credits: Bank deposits 3. * * Material Delivery **: - Borrowing: Engineering Construction-Contract Cost-Direct Materials - Borrowing: Construction-Contract costs-Other direct costs - Borrowing: Engineering Construction-Contract Cost-Overload - Credits: raw materials-main materials - Credits: raw materials-auxiliary materials - Credits: raw materials--hardware and electrical materials 4. * * Selling remaining raw materials ** - * * Revenue confirmed **: - Borrow: Bank deposit - Credits: Other business income - Credits: taxes payable-value added tax-output tax - * * Carried-forward cost **: - Borrowing: Other business costs - Credits: raw materials-main materials - Credits: raw materials-auxiliary materials - Credits: raw materials-hardware and electrical materials * * 3. Labor services ** 1. * * Labor Subcontracting Cost in Current Month **: - Borrow: Project construction-Contract cost-Labor cost (tax included) - Credits: accounts payable-service payable-XXX units 2. * * Pay labor fees ** - * * Receives a special receipt (only tax, generally the contract states that the payment will be based on a certain percentage of the settlement)**: - Borrowing: Taxes payable-input tax to be certified (taxes payable-value-added tax-input tax) - Borrowing: Construction-Contract cost-Labor cost (red words to be charged back) - * * Pay (Pay according to the amount of the bill)**: - Borrowing: accounts payable-service payable-XXX units - Credits: Bank deposits * * 4. Machinery usage ** 1. * * Machinery usage fee incurred in current month ** - * * At the end of the month, the cost will be recorded according to the settlement sheet (generally, the settlement sheet includes tax)**: - Borrow: Engineering construction-Contract cost-Machinery usage fee (tax included) - Credits: accounts payable-machinery payable-customer 2. * * Received special ticket (only tax, generally the contract states that the payment will be based on a certain percentage of the settlement)**: - Borrowing: Taxes payable-input tax to be certified (taxes payable-value-added tax-input tax) - Borrowing: Engineering construction-Contract cost-Machinery usage fee (red words to be charged back) 3. * * Pay (Pay according to the amount of the bill)**: - Borrow: accounts payable-machinery payable-XXX units - Credits: Bank deposits * * 5. Regarding expense reimbursement ** 1. * * Refund for hospitality, travel, fuel, and toll fees **: - Borrowing: Engineering Construction-Contract Cost-Overload-Various Items - Borrowing: Taxes payable-input tax to be certified (taxes payable-value-added tax-input tax) - Credits: Other Receivable-Petty Funds-Personal - Credits: Bank deposits, etc. * * 6. Subcontracting projects ** 1. * * Confirm the cost and payment of the subcontracted project ** - * * The cost of the project will be confirmed according to the settlement sheet (generally, the settlement sheet includes tax)**: - Borrowing: Engineering construction-Contract cost-Subcontracted engineering cost-Engineering project (tax included) - Credits: accounts payable-accounts payable-clients - * * Received the sub-contractor's special bill (only tax, generally the contract states that the bill will be made according to the settlement ratio)**: - Borrowing: Taxes payable-input tax to be certified (taxes payable-value-added tax-input tax) - Borrowing: Construction-Contract cost-Subcontracted project cost-Project (red words reversed) - * * Subcontracting project payment (according to the amount of the bill)**: - Borrowing: accounts payable-payables-customer - Credits: Bank deposits * * VII. Fixed assets and low-value consumables ** 1. * * Purchasing assets **: - Borrow: Fixed assets-production equipment, etc. - Borrow: Low-value consumables - Borrowing: Taxes payable-input tax to be certified (taxes payable-value-added tax-input tax) - Credits: Bank deposits 2. * * Month End Depreciation **: - Borrowing: Construction-Contract costs-Other direct costs-Project (for production) - Borrowing; Construction-Contract costs-Overheads-Depreciation and amortization-Engineering projects (non-production) - Credits: Accumulated Depreciation * * 8. Value Added Taxes ** 1. * * Current month's amount of vat **: - Borrowing: Taxes payable-Value Added Taxes payable-Taxes paid - Credits: Bank deposits 2. * * Current month, last month, value-added tax **: - Borrowing: Taxes payable-not paid value-added tax - Credits: Bank deposits * * 9. Wages ** 1. * * Withdrawing the salary of project management personnel **: - Borrowing: construction-contract cost-indirect cost-employee compensation - Credits: Payable employee salaries 2. * * Withdraw production personnel welfare fees, education funds and overall planning **: - Borrowing: Engineering Construction-Contract Cost-Direct Labor - Credits: employee payables-wages - Credits: employee payables-welfare expenses - Credits: employee salaries payable-employee education funds - Credits: payables-overall planning-retirement - Credits: Payroll payable-overall planning-medical treatment - Credits: Payroll Payable-Overall Planning-Unemployed - Credits: Payroll payable-overall planning-childbirth - Credits: employee payables-overall planning-work-related injury - Credits: employee payables-overall planning-housing accumulation fund - Credits: Taxes payable-Individual income tax 3. * * Pay **: - Borrowing: Payable employees-wages - B: Payable employee salaries-welfare expenses - Credits: Bank deposits 4. * * To be handed over to the society for co-ordination **: - Borrowing: payables-overall planning-retirement - Borrowing: Payroll Payable-Overall Planning-Medical Treatment - Borrowing: Payroll Payable-Overall Planning-Unemployed - Borrowing: Payroll Payable-Overall Planning-Childbirth - Borrowing: Payroll payable-overall planning-industrial injury - Borrowing: Payroll payable-overall planning-housing accumulation fund - Credits: Bank deposits 5. * * Pay tax **: - Borrowing: Taxes Payable-Individual income tax - Credits: Bank deposits * * X. It is related to Party A's settlement ** 1. [Settlement]: - Borrowing: Receivable-Settlement-Customer (Advance Receivable) - Credits: Engineering Settlement-Engineering Project - Credits: Taxes payable-sales tax to be transferred 2. * * Collection **: - Borrow: Bank deposit - Credits: Receivable-Settlement-XXX units (Advance Receivable) 3. * * If the amount stated in the bill is carried forward to the output tax **: - Credits: taxes payable-value added tax-output tax - Credits: Taxes payable-sales tax to be transferred (negative 11%) * * 11. Revenue, cost, gross profit, and taxes ** 1. * * Revenue, cost, and gross profit are confirmed on a monthly basis **: - Borrowing: Main Business Cost-Engineering Project - Borrowing: Construction-Contract gross profit-Project - Credits: income from main business-engineering projects 2. * * Carry forward value-added tax **: - Borrowing: Taxes and fees payable-vat not paid - Credits: Taxes and fees payable-advance payment of vat - Borrowing: Taxes Payable == Value Added Taxes Payable-Transfer Out Unpaid Value Added Taxes - Credits: Value Added Taxes not paid 3. * * Withdrawing taxes and surcharges **: - Borrowing: Taxes and Surcharges - Credits: Taxes and fees--urban construction tax - Credits: Taxes and fees payable-additional education fees - Credits: Taxes and fees to be paid--local education surcharges - Credits: Taxes and fees payable-price adjustment fund - Credits: Taxes and fees---local water resources funds and other funds, etc. 4. * * Carried-forward income tax **: - Borrowing: income tax - Credits: Taxes Payable-- * * 12. Settlement after the completion of the contract ** 1. Borrowing: Engineering Settlement-Engineering Project 2. Credits: Construction-Contract gross profit-Project - Construction-Contract cost-Carried-forward-Project <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Prepare the accounting entries for the issue of corporate bonds
1. To be issued at par value: - Borrow: Bank deposit Credits: bonds payable-par value of bonds 2. Bond issued at premium: - Borrow: Bank deposit Credits: bonds payable-par value of bonds Credits: bonds payable-bond premium 3. Bond issued at a discount: - Borrow: Bank deposit Borrowing: bonds payable-bond discount Credits: bonds payable-par value of bonds In addition, when the interest is withdrawn at the end of the period: - Borrowing: Construction in progress/manufacturing costs/financial costs, etc. Bond Payable--interest adjustment Credits: interest payables (bond interest paid in installments) Credits: bonds payables-- When the principal and interest are due: - Borrowing: bonds payable-par value Bond Payable-- interest payables Credits: Bank deposits <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
The use of the debt-credit bookkeeping method to prepare accounting entries
When making accounting entries under the debt-loan bookkeeping method, the first thing to do was to make clear the accounting subjects involved in each economic business, determine the direction of borrowing and lending, and the corresponding amount. A simple accounting entry was an entry that only involved the debits of one account and the credits of another account. For example, if A purchased 60000 yuan of materials and paid 60000 yuan of bank deposit, the accounting entry would be 60000 yuan of borrowed materials and 60000 yuan of loaned bank deposit; if B received 60000 yuan of salary and deposited it into bank deposit, the accounting entry would be 60000 yuan of borrowed bank deposit and 60000 yuan of loaned salary. A compound entry is an accounting entry that involves more than two accounts when reflecting an economic transaction. Under the debt-loan bookkeeping method, compound entries were generally in the form of one "loan" and many "loans" or one "loan" and many "loans". There were also cases of many loans and loans. For example, in the end-of-period carry-forward and withdrawal business, the entries such as borrowing administrative expenses-wages, sales expenses-wages, borrowing payables-wages, and borrowing payables-taxes. An accounting entry was composed of three elements: the direction of borrowing and lending, the corresponding account, and the amount. In China, accounting entries were recorded in the accounting voucher. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
accounting entries for scraps
The accounting entries for scraps were as follows: If the scraps were sold to obtain income, the general accounting entries would be: Borrowing: cash on hand, etc., Borrowing: other business income, taxes payable-vat payable-vat payable-Non-operating income-scrap income, taxes payable-vat payable-output tax. The novel "Ledge" is equally exciting. Everyone is welcome to click and read it!
Future transaction accounting entries
1. To apply for opening a trading account with a stock and futures broking company, according to the deposited funds: - Borrowing: Other currency funds - Credits: Bank deposits 2. When an enterprise obtains a derivative instrument: - At fair value: - Derivative - According to the transaction fees incurred: - Borrowing: Investment income - According to the amount actually paid: - Credits: Other currency funds 3. On the balance sheet date, the difference between the fair value of the derivative instruments and the book balance: - Derivative - Credits: gains and losses from changes in fair value; - On the contrary, if the fair value is lower than the book balance, the opposite accounting entry will be made (i.e. borrow: gain or loss from changes in fair value; loan: derivative). 4. When a derivative instrument is terminated, it should be handled in accordance with the relevant provisions of the "tradable financial assets" and "tradable financial obligations". 5. If the company's futures trading is of an investment nature, when closing the position: - Borrowing: Future margin - Credits: investment income (if it is a loss, make the opposite entry). 6. If the futures transaction is a Hedging operation, the Hedging Instrument and Hedging Items need to be accounted for according to the matching principle. 7. Customer's profit for the day: - Borrowing: Receivable currency margin--futures exchange - Credits: cash deposit payable-xx customer; - If the customer made a loss on the day of settlement, the opposite accounting entry would be made. If there is a difference between the settlement amount of the futures company and the futures exchange and the settlement amount of the customer, it shall be recorded in the credit or credit of the "settlement difference" account. 8. For corporate investment futures, when acquiring trading financial assets: - The fair value of the financial asset at the time of acquisition shall be taken as its initial recognition amount; if the payment for the acquisition of the tradable financial asset includes the cash dividends that have been declared but not yet distributed or the bond interest that has reached the interest payment date but has not been received, it shall be separately recognized as the item to be received; the relevant transaction costs incurred in the acquisition of the tradable financial asset shall be included in the investment income when they occur. The accounting treatment was: - Borrowing "Transactable Financial Assets-Cost","Dividend-Receivable/Interested", credit "Bank Depository", and borrow or lend "Investment Revenue". - During the holding period, dividends/interest included in the purchase price received: - Borrowing: bank deposit; lending: dividends/interest received; confirming the dividends/interest enjoyed during the holding period, debiting "dividends/interest received" and credit "investment income"; at the same time, debiting "bank deposit" and credit "dividends/interest received". If there is a large difference between the coupon rate and the actual interest rate, the actual interest rate shall be used to calculate and determine the bond interest income. The novel "Ledge" is equally exciting. Everyone is welcome to click and read it!
Table of accounting entries for the food and beverage industry
The Table of Catering Industry Accountant's Entry Encyclopedia was a form that could help the food and beverage industry make accounting records. It contained five columns: project name, account code, account name, summary, and balance. This form could help the restaurant business register their income and expenses, track their financial status, and check their financial processes. It helps ensure that the financial records of the restaurant industry are accurate.
Fixed assets accounting entries of public institutions
1. ** Purchasing Fixed Resources that Don't Need to Be Instalmed **: - According to the cost of fixed assets: - Financial accounting: Borrow: Fixed assets, loan: Non-current assets fund-Fixed assets. - At the same time, according to the actual payment amount: borrow: business expenses/operating expenses/special fund-repair fund, loan: financial subsidy income/zero balance account limit/bank deposit. 2. ** Fixed assets to be purchased **: - First, through the "construction in progress" account accounting: - Borrowing: construction in progress, loan: non-current asset fund-construction in progress; at the same time, according to the relevant taxes incurred in the process of receiving the fixed assets, borrowing: other expenses, loan: bank deposits, etc. - After installation: - Borrowing: Fixed assets; Borrowing: Non-current asset fund-Fixed assets; Borrowing: Non-current asset fund-Construction in progress; Borrowing: Construction in progress. 3. ** Depreciation of fixed assets **: - Financial accounting: Borrow: Business activity expenses, loan: Accumulated depreciations of fixed assets (budget accounting does not require accounting entries). 4. ** Fixed assets scrapped and transferred to clean up **: - Borrowing: Fixed assets disposal (net residual value after deducting the depreciations), accumulated depreciations; Borrowing: Fixed assets. 5. ** Fixed assets sold after being scrapped **: - Borrowing: bank deposit, loan: fixed assets disposal. 6. ** Cleaning cost when fixed assets are scrapped **: - Borrowing: Fixed assets clearance, Borrowing: Bank deposits. 7. ** Net loss from transfer of fixed assets **: - Borrowing: profit and loss from asset disposal, lending: fixed asset disposal. 8. ** Net income from transfer of fixed assets **: - Borrowing: Fixed asset disposal, loan: Gains and losses from asset disposal. 9. ** Fixed assets scrapped due to natural disasters **: - Borrowing: non-operating expenses--profit and loss of non-current assets; Borrowing: fixed assets disposal. 10. ** Fixed assets will be automatically scrapped during the production and operation period **: - Borrowing: non-operating expenses--profit and loss of non-current assets; Borrowing: fixed assets disposal. 11. ** Net income from fixed assets **: - Borrowing: Fixed assets clearance; Borrowing: Non-operating income. 12. ** Fixed assets in surplus **: - If the market price of the same type or similar fixed assets cannot be obtained, it shall be recorded in the account according to the nominal amount (1 Yuan): - Borrowing: Fixed assets; Borrowing: Non-current asset fund-Fixed assets. 13. ** Fixed assets that are damaged or scrapped **: - When transferring assets to be disposed of, according to the book value of the fixed assets to be disposed of: - Borrowing: profit and loss of assets to be disposed of, accumulated depreciations; Borrowing: fixed assets. - When the disposal is approved, the fixed assets shall be disposed of according to the non-current asset fund corresponding to the fixed assets: - Borrowing: Non-current assets fund--fixed assets, loan: loss and surplus of assets to be disposed of. - The income and relevant expenses incurred from the disposal of damaged or scrapped fixed assets, as well as the net income after deducting the relevant expenses from the disposal income: - Borrowing: bank deposit, loan: loss and surplus of assets to be disposed of. - After the disposal, the net income after deducting the relevant disposal expenses: - Borrowing: loss and surplus of assets to be disposed of, lending: treasury funds to be paid, etc. 14. ** Accept fixed assets that do not need installation **: - Borrowing: Fixed assets, loaning: Non-current asset fund-Fixed assets; At the same time, according to the relevant taxes incurred in the process of accepting the fixed assets, borrowing: Other expenses, loaning: Bank deposits, etc. 15. ** Accept fixed assets to be installed **: - Borrowing: construction in progress, loaning: non-current asset fund-construction in progress; meanwhile, according to the relevant taxes and fees incurred during the acceptance of the fixed assets, borrowing: other expenses, loaning: bank deposits, etc.; after the installation of the fixed assets is completed, it will be transferred to the fixed assets, borrowing: fixed assets, loaning: non-current asset fund-fixed assets; meanwhile, borrowing: non-current asset fund-construction in progress, loaning: construction in progress. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Scrap leftover materials sales accounting entries
If it was the income from scraps and scraps generated during the production of products, the accounting entry would be: Borrow: cash or bank account Credits: Other business income Taxes Payable-Value Added Taxes Payable-Sales Taxes If it was to deal with waste newspapers, the accounting entry would be: Borrow: cash or bank account Credits: Non-operating income-income from disposal of current assets Generally speaking, the scraps would be included in the production costs of the product. When the scraps were sold, the relevant costs would not be carried forward. The value-added tax rate for scraps is generally 17%(changed to 16% in May 2018). The following accounting entries should be made according to the payment received: Borrowing: Bank deposit (or related account) Credits: Other business income Taxes payable-value added tax (output tax) If it is the income from the disposal of scrapped fixed assets, it should be included in the fixed assets disposal account. Borrow: cash or bank account Credits: Other business income Taxes Payable-Value Added Taxes Payable-Sales Taxes If the inventory is scrapped normally, the book assets will be transferred to operating costs, and the cash collected from selling the scrap will be credited to operating costs. If the inventory is scrapped abnormally, the book assets will be transferred to non-operating expenses, and the cash collected from selling the scrap will be credited to non-operating income. If it was an ordinary tax collector, the income from selling scrap would be recorded in the non-operating income account as follows: Borrow: cash on hand Credits: Non-operating income Taxes payable-vat payable-vat (output tax) If it was a small-scale tax collector, the entries would be as follows: Borrow: cash Credits: Non-operating income Taxes Payable--Value Added Taxes Payable The novel "Ledge" is equally exciting. Everyone is welcome to click and read it!
How to write the accounting entries of insurance premium institutions
The accounting entries for the insurance premium of a public institution involved different situations: 1. ** At the time of withdrawal **: - Borrowing: Business expenses-Basic expenses-Wages Credits: employee payables-wages Payroll Payable-Social Security (Personal) 2. ** When paying employee wages **: - Borrowing: Payable employees-wages Credits: Bank deposits 3. ** When paying social security **: - Borrowing: Payroll payable-social security (personal part) Business activity expenses (part of the social security unit paid) Credits: Bank deposits Or according to the following method: 1. ** At the time of withdrawal **: - Borrowing: Business expenses-insurance premium (part borne by the unit) Other Receivable-- Credits: other payables-insurance premium (full amount) 2. ** When Paying **: - Borrow: Other payables--insurance premium (full amount) Credits: Other Receivable--insurance premium (part borne by individual) Bank deposit (amount borne by unit) It can also be calculated through the subject of "employee compensation payables". The accounting entry is: 1. ** At the time of withdrawal **: - B: Payable employee salaries--social insurance premium Other payables--social protection fees Credits: bank deposits, zero-balance accounts, financial subsidies 2. ** Time of payment **: - Borrowing: Payroll payable-social security (personal part) Business activity expenses (This is the part of the social security unit paid) Credits: Bank deposits. Among them, the part of the social security unit paid by the public institution did not need to be withdrawn. When paying, it was included in the "business activity expenses" account. <a href="/?from=ask_words" style="color:red" target="_blank">Read more exciting novels for free</a>
Can accounting journal entries be presented in a funny cartoon format?
Yes, they can. With some creativity, accounting journal entries can be transformed into funny cartoons to make the topic more engaging and accessible.