In order to help candidates fully understand and master the national accounting professional and technical qualification examination, the 2018 "Junior Accounting Practice" asset business, liability business, owner's equity business, income, expense and profit business, product cost business and public institution business have been comprehensively sorted out from now on, and special projects have been overcome, and the handling ideas, processing requirements and processing skills of various businesses are listed in detail, and arranging examples for typical businesses and key businesses are equipped with strengthening exercises to consolidate them.
![External production movable property that needs to be installed 1) When purchasing: borrow: loan: under construction project [buying price + transportation fee + loading and unloading fee + installation fee + professional service fee + related taxes] tax payable 1 VAT payable [de - DayDayNews](https://cdn-dd.lujuba.top/img/loading.gif)
Fixed Assets Business
1 Initial measurement
1. Outbound purchase does not require installation for production movable property
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 Credit: Bank deposits/accounts payable, etc.
2. External movable property for production that needs to be installed, which needs to be installed,
1) When purchasing:
Debit: Under construction project [buying price + transportation fee + loading and unloading fee + installation fee + professional service fee + related taxes (excluding increased tax)]
Taxes and fees payable, VAT payable (input tax) [deductible VAT input tax]
Credit: Bank deposits/accounts payable, etc.
2) When installation and debugging costs occur:
Debit: Under construction project
Taxes and fees payable, VAT payable (input tax) [deductible VAT input tax]
Credit: Bank deposits, etc.
3) Installation and consumption materials or manual labor:
Debit: Construction projects under construction
Loan: Raw materials [Receive out-of-purchase raw materials]
Inventory goods [Receive self-produced products 1
0 Employee compensation payable [Wage payable]
4) When the installation is completed and reaches the predetermined usable state:
Debit: Fixed assets [(1)+(2)+(3) Actual cost incurred]
Loan: Construction projects under construction
[Instructions]
1) Employee training fees are not included in the cost of fixed assets, and are included in the current profit and loss (administrative expenses) when incurred.
2) The relevant taxes and fees included in the cost of accounting for state-owned assets include tariffs, deeds, farmland occupation tax, vehicle purchase tax and other related taxes and fees paid for obtaining fixed assets, and do not include the deductible value-added tax input tax.
3. Purchased real estate
1) When purchasing:
Debit: Fixed assets/construction projects
Taxes and fees payable-Value-added tax payable (input tax) [input tax x60%]
Taxes and fees payable input tax to be deducted [input tax x40%]
Credit: bank deposits/accounts payable, etc.
2) Deduct from the 13th month from the month of obtaining tax deduction certificates:
Debit: taxes and fees payable-added tax payable (input tax) [input tax x40%]
0 Debit: taxes and fees payable amount payable:
Debit: taxes and fees payable ladded tax (input tax) [input tax x40%]
0 Credit: bank deposits/accounts payable, etc.
2) Deduct from the 13th month of the month when obtaining tax deduction certificates:
Debit: taxes and fees payable-added tax payable (input tax) [input tax x40%]
0 Credit: Taxes and fees payable - input tax to be deducted [input tax x40%]
[Note] For real estate acquired by general taxpayers after May 1, 2016 and accounted for fixed assets in the accounting system, and real estate projects under construction acquired after May 1, 2016, the input tax amount shall be deducted from the output tax amount in two years from the date of acquisition, the deduction ratio in the first year is 60%, and the deduction ratio in the second year is 40%. Among the above input tax amount, 60% is deducted from the output tax amount in the current period when the tax deduction voucher is obtained; 40% is the input tax amount to be deducted, which is deducted from the output tax amount in the 13th month from the month when the tax deduction voucher is obtained.
4. Build fixed assets
1) Accounting under self-operation mode:
① When purchasing engineering materials :
Borrow: Engineering materials [purchase price + Fuguan tax and fee]
Taxes and fees payable-Value-added tax payable (input tax) [input tax x60%]
Taxes and fees payable-input tax payable-to-deductible input tax [input tax x40%]
Loan: Bank deposit
② When receiving engineering materials:
Borrow: Under construction project [cost of engineering materials received]
000 Borrow: Construction project [cost of engineering materials received]
00000 Credit: Engineering materials
③Receive raw materials for projects under construction:
Debit: Under construction [Cost of materials for receiving materials]
Credit: Raw materials [Material cost]
[Instructions] If raw materials are used for construction of real estate, value-added tax needs to be transferred out. The relevant entries are as follows:
Debit: Taxes and fees payable, input tax to be deducted [Input tax of the raw material x40%]
Credit: Taxes and fees payable, value-added tax payable (input tax transfer) [Input tax of the raw material x40%]
④Receive goods produced by the enterprise:
Debit: Under construction [Commodity cost]
Loan: Inventory goods [Commodity Cost]
[Instructions] After the change and addition of the movable property and real estate will use the company's products, and value-added tax will not be regarded as sales.
⑤The salary of the project personnel incurred by the self-operated project:
Debit: Under construction project [Wage accrued by the engineering personnel]
Credit: Employee salary and other accounts
⑥ When the self-operated project reaches the predetermined usable state, it will be transferred to fixed assets according to its cost:
Debit: State-owned assets [②+③+④+⑤]
Credit: Under construction project
When the project receives engineering materials:
Debit: Under construction project 500,000
Credit: Under construction material 500,000
Project uses cement produced by the enterprise:
Debit: Under construction project 80,000
0 Credit: Under construction material 500,000
Project uses cement produced by the enterprise:
Debit: Under construction project 80,000
0 Credit: Inventory goods 80000
When allocating project employees' salaries:
Debit: 1000000
Credit: Employee salary payable 100000
When paying other fees:
Debit: 300000
Credit: Bank deposit 30000
2) Accounting under the package delivery method (general processing):
① Prepaid project payment:
Debit: Prepaid account [actual prepaid amount]
Credit: Bank deposit
② The enterprise settles the progress payment to the construction contractor according to the reasonable estimate of the progress of the contract and the contract, and the other party issues a special value-added tax invoice:
Debit: Under construction project [Project progress payment]
Taxes and fees payable-VAT payable (input tax) [Input tax x60%]
Taxes and fees payable-input tax to be deducted [Input tax x40%]
Credit: Bank deposit/prepaid accounts
③ Project payment paid according to the contract when the project is completed:
Debit: Under construction project [Project payment paid when the completion]
Taxes and fees payable - VAT payable (input tax) [input tax x60%]
Taxes and fees payable - input tax to be deducted [input tax x40%]
Loan: Bank deposit
④ When the project reaches the predetermined usable state, according to its cost:
: Fixed assets [②+③]
Loan: Under construction project
2 subsequent measurement
1. Depreciation of fixed assets
Borrow: Under construction project [fixed assets used in the process of constructing fixed assets by yourself settling for ]
Manufacturing expenses [depreciation of fixed assets accrued for basic production workshops]
Management expenses [Depreciation arreared by the management department with fixed assets]
Sales expenses [Depreciation arreared by the sales department with fixed assets]
Other business costs [Depreciation arreared by the operating leased fixed assets]
Credit: Accumulated depreciation
[Note] The optional depreciation methods include the age average method (also known as the straight line method), the workload method, the double balance decreasing method and the sum of years method.
2. Subsequent expenditure of fixed assets
1) Subsequent expenditure of capitalization (general processing)
① When fixed assets are transferred to renovation and expansion:
borrow: under construction project [book value of fixed assets]
cumulative depreciation [accumulative depreciation]
provision for impairment of fixed assets [accumulative impairment provision]
Credit: fixed assets [origin price of fixed assets]
② When expenditure on renovation and expansion project occurs:
If it is movable property:
borrow: under construction project [subsequent expenditure that meets capitalization conditions]
00 Taxes and fees payable - VAT payable (input tax)
Credit: Bank deposits, etc.
If it is real estate:
Borrow: Under construction project [Subsequent expenditure that meets capitalization conditions]
Taxes and fees payable - VAT payable (input tax) [Input tax x60%]
Taxes and fees payable - input tax to be deducted [Input tax x40%]
Goods: Bank deposits, etc.
③ Replace fixed asset parts:
Borrow: Bank deposits, raw materials [residual materials price]
Non-operating expenses [net loss]
Credit: Construction under construction [book value of the replaced part]
④ When the production line renovation and expansion project reaches the predetermined usable state:
Debit: Fixed assets [①+②+③]
Credit: Construction under construction
[Instructions] After being converted into a state-owned asset, depreciation shall be made according to the re-determined service life, estimated net residual value and depreciation method.
2) Subsequent expenditures for expenses (such as daily repair costs)
Debit: Management expenses [Production workshop/administrative management department]
Sales expenses [Special sales agency]
Credit: Raw materials
Employee compensation payable
Bank deposit
[Instructions] Repair expenses incurred in daily repairs of machinery and equipment in the production workshop do not meet the capitalization conditions for subsequent expenditure of fixed assets. The expenditures incurred should be recorded in "administrative expenses" rather than "manufacturing expenses".
In order to help candidates fully understand and master the national accounting professional and technical qualification examination, the 2018 "Junior Accounting Practice" asset business, liability business, owner's equity business, income, expense and profit business, product cost business and public institution business have been comprehensively sorted out from now on, and special projects have been overcome, and the handling ideas, processing requirements and processing skills of various businesses are listed in detail, and arranging examples for typical businesses and key businesses are equipped with strengthening exercises to consolidate them.
Fixed Assets Business
1 Initial measurement
1. Outbound purchase does not require installation for production movable property
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 Credit: Bank deposits/accounts payable, etc.
2. External movable property for production that needs to be installed, which needs to be installed,
1) When purchasing:
Debit: Under construction project [buying price + transportation fee + loading and unloading fee + installation fee + professional service fee + related taxes (excluding increased tax)]
Taxes and fees payable, VAT payable (input tax) [deductible VAT input tax]
Credit: Bank deposits/accounts payable, etc.
2) When installation and debugging costs occur:
Debit: Under construction project
Taxes and fees payable, VAT payable (input tax) [deductible VAT input tax]
Credit: Bank deposits, etc.
3) Installation and consumption materials or manual labor:
Debit: Construction projects under construction
Loan: Raw materials [Receive out-of-purchase raw materials]
Inventory goods [Receive self-produced products 1
0 Employee compensation payable [Wage payable]
4) When the installation is completed and reaches the predetermined usable state:
Debit: Fixed assets [(1)+(2)+(3) Actual cost incurred]
Loan: Construction projects under construction
[Instructions]
1) Employee training fees are not included in the cost of fixed assets, and are included in the current profit and loss (administrative expenses) when incurred.
2) The relevant taxes and fees included in the cost of accounting for state-owned assets include tariffs, deeds, farmland occupation tax, vehicle purchase tax and other related taxes and fees paid for obtaining fixed assets, and do not include the deductible value-added tax input tax.
3. Purchased real estate
1) When purchasing:
Debit: Fixed assets/construction projects
Taxes and fees payable-Value-added tax payable (input tax) [input tax x60%]
Taxes and fees payable input tax to be deducted [input tax x40%]
Credit: bank deposits/accounts payable, etc.
2) Deduct from the 13th month from the month of obtaining tax deduction certificates:
Debit: taxes and fees payable-added tax payable (input tax) [input tax x40%]
0 Debit: taxes and fees payable amount payable:
Debit: taxes and fees payable ladded tax (input tax) [input tax x40%]
0 Credit: bank deposits/accounts payable, etc.
2) Deduct from the 13th month of the month when obtaining tax deduction certificates:
Debit: taxes and fees payable-added tax payable (input tax) [input tax x40%]
0 Credit: Taxes and fees payable - input tax to be deducted [input tax x40%]
[Note] For real estate acquired by general taxpayers after May 1, 2016 and accounted for fixed assets in the accounting system, and real estate projects under construction acquired after May 1, 2016, the input tax amount shall be deducted from the output tax amount in two years from the date of acquisition, the deduction ratio in the first year is 60%, and the deduction ratio in the second year is 40%. Among the above input tax amount, 60% is deducted from the output tax amount in the current period when the tax deduction voucher is obtained; 40% is the input tax amount to be deducted, which is deducted from the output tax amount in the 13th month from the month when the tax deduction voucher is obtained.
4. Build fixed assets
1) Accounting under self-operation mode:
① When purchasing engineering materials :
Borrow: Engineering materials [purchase price + Fuguan tax and fee]
Taxes and fees payable-Value-added tax payable (input tax) [input tax x60%]
Taxes and fees payable-input tax payable-to-deductible input tax [input tax x40%]
Loan: Bank deposit
② When receiving engineering materials:
Borrow: Under construction project [cost of engineering materials received]
000 Borrow: Construction project [cost of engineering materials received]
00000 Credit: Engineering materials
③Receive raw materials for projects under construction:
Debit: Under construction [Cost of materials for receiving materials]
Credit: Raw materials [Material cost]
[Instructions] If raw materials are used for construction of real estate, value-added tax needs to be transferred out. The relevant entries are as follows:
Debit: Taxes and fees payable, input tax to be deducted [Input tax of the raw material x40%]
Credit: Taxes and fees payable, value-added tax payable (input tax transfer) [Input tax of the raw material x40%]
④Receive goods produced by the enterprise:
Debit: Under construction [Commodity cost]
Loan: Inventory goods [Commodity Cost]
[Instructions] After the change and addition of the movable property and real estate will use the company's products, and value-added tax will not be regarded as sales.
⑤The salary of the project personnel incurred by the self-operated project:
Debit: Under construction project [Wage accrued by the engineering personnel]
Credit: Employee salary and other accounts
⑥ When the self-operated project reaches the predetermined usable state, it will be transferred to fixed assets according to its cost:
Debit: State-owned assets [②+③+④+⑤]
Credit: Under construction project
When the project receives engineering materials:
Debit: Under construction project 500,000
Credit: Under construction material 500,000
Project uses cement produced by the enterprise:
Debit: Under construction project 80,000
0 Credit: Under construction material 500,000
Project uses cement produced by the enterprise:
Debit: Under construction project 80,000
0 Credit: Inventory goods 80000
When allocating project employees' salaries:
Debit: 1000000
Credit: Employee salary payable 100000
When paying other fees:
Debit: 300000
Credit: Bank deposit 30000
2) Accounting under the package delivery method (general processing):
① Prepaid project payment:
Debit: Prepaid account [actual prepaid amount]
Credit: Bank deposit
② The enterprise settles the progress payment to the construction contractor according to the reasonable estimate of the progress of the contract and the contract, and the other party issues a special value-added tax invoice:
Debit: Under construction project [Project progress payment]
Taxes and fees payable-VAT payable (input tax) [Input tax x60%]
Taxes and fees payable-input tax to be deducted [Input tax x40%]
Credit: Bank deposit/prepaid accounts
③ Project payment paid according to the contract when the project is completed:
Debit: Under construction project [Project payment paid when the completion]
Taxes and fees payable - VAT payable (input tax) [input tax x60%]
Taxes and fees payable - input tax to be deducted [input tax x40%]
Loan: Bank deposit
④ When the project reaches the predetermined usable state, according to its cost:
: Fixed assets [②+③]
Loan: Under construction project
2 subsequent measurement
1. Depreciation of fixed assets
Borrow: Under construction project [fixed assets used in the process of constructing fixed assets by yourself settling for ]
Manufacturing expenses [depreciation of fixed assets accrued for basic production workshops]
Management expenses [Depreciation arreared by the management department with fixed assets]
Sales expenses [Depreciation arreared by the sales department with fixed assets]
Other business costs [Depreciation arreared by the operating leased fixed assets]
Credit: Accumulated depreciation
[Note] The optional depreciation methods include the age average method (also known as the straight line method), the workload method, the double balance decreasing method and the sum of years method.
2. Subsequent expenditure of fixed assets
1) Subsequent expenditure of capitalization (general processing)
① When fixed assets are transferred to renovation and expansion:
borrow: under construction project [book value of fixed assets]
cumulative depreciation [accumulative depreciation]
provision for impairment of fixed assets [accumulative impairment provision]
Credit: fixed assets [origin price of fixed assets]
② When expenditure on renovation and expansion project occurs:
If it is movable property:
borrow: under construction project [subsequent expenditure that meets capitalization conditions]
00 Taxes and fees payable - VAT payable (input tax)
Credit: Bank deposits, etc.
If it is real estate:
Borrow: Under construction project [Subsequent expenditure that meets capitalization conditions]
Taxes and fees payable - VAT payable (input tax) [Input tax x60%]
Taxes and fees payable - input tax to be deducted [Input tax x40%]
Goods: Bank deposits, etc.
③ Replace fixed asset parts:
Borrow: Bank deposits, raw materials [residual materials price]
Non-operating expenses [net loss]
Credit: Construction under construction [book value of the replaced part]
④ When the production line renovation and expansion project reaches the predetermined usable state:
Debit: Fixed assets [①+②+③]
Credit: Construction under construction
[Instructions] After being converted into a state-owned asset, depreciation shall be made according to the re-determined service life, estimated net residual value and depreciation method.
2) Subsequent expenditures for expenses (such as daily repair costs)
Debit: Management expenses [Production workshop/administrative management department]
Sales expenses [Special sales agency]
Credit: Raw materials
Employee compensation payable
Bank deposit
[Instructions] Repair expenses incurred in daily repairs of machinery and equipment in the production workshop do not meet the capitalization conditions for subsequent expenditure of fixed assets. The expenditures incurred should be recorded in "administrative expenses" rather than "manufacturing expenses".
3. Disposal of fixed assets
1) Fixed assets transfer and cleanup:
Debit: Fixed assets cleanup [book value]
Cumulative depreciation [accumulative depreciation accrued]
Fixed assets impairment provision [accumulative depreciation accrued]
Credit: Fixed assets [book original price]
2) Cleaning fees incurred, etc.:
Debit: Fixed assets [relevant taxes and other expenses paid during the cleaning process]
Taxes and fees payable-value-added tax (input tax amount)
0 Credit: Bank deposits, etc.
3) Recover the disposal price, residual material value and variable price income:
① Recover the disposal price and tax:
Debit: Bank deposit [disposal price]
Credit: Fixed asset cleaning
Taxes and fees paid-able-Value-added tax (performance tax)
② Residual material storage:
Debit: Raw materials, etc. [residual material storage value]
Credit: Fixed asset cleaning
4) Treatment of insurance compensation:
Debit: Other receivables, etc.
Credit: Fixed Asset Cleaning
5) Handling of clearing net profit and loss:
① Cleaning net loss:
Debit: Non-operating expenses - extraordinary loss [loss caused by abnormal causes such as natural disasters]
Non-operating expenses - non-current assets disposal loss [normal processing losses during production and operation]
Credit: Fixed asset cleaning
② Cleaning net income:
Debit: Fixed asset cleaning
Loan: Non-operating income - non-current assets disposal gain
[Instructions] Net profit and loss of disposal of fixed assets = (the sale price obtained or change price income + compensation receivable +Recovered residual material value)-[(original value of fixed assets - accumulated depreciation - fixed asset impairment provision)+clearance expenses incurred]
[Answer analysis] The equipment's sale of sea income = 113000-(160000-35000-10000)-3000=-5000 (yuan),
The longer-term processing of this question is:
carry forward fixed asset book value:
borrow: fixed asset clearance 115000
cumulative depreciation 35000
Fixed asset impairment provision 10000
Credit: Fixed assets 160,000
Cleaning expenses incurred:
Debit: Fixed assets cleanup 3000
Credit: Bank deposit 3000
Carry-forward disposal Profit and loss:
Debit: Bank deposit 113,000
Non-operating expenses 5000
Loan: Fixed assets cleanup 118,000
4. Cleaning of fixed assets
1) Fixed assets profit:
Debit: Fixed assets [Replacement cost]
Credit: Previous years profit adjustment
[Instructions] Fixed assets should be corrected as previous errors and will not affect current profit and loss.
2) Fixed assets loss :
① Processing before approval:
Debit: Pending property loss and overflow [book value of fixed assets lost]
Cumulative depreciation [accumulative depreciation accrued]
Fixed assets impairment provision [accurate impairment provision]
Credit: Fixed assets [original price of fixed assets lost]
② Processing after approval:
Debit: Other receivables [insurance compensation or negligent person compensation]
Non-operating expenses [net loss loss]
Credit: Pending property gains and losses
[Answer analysis] The accounting entries for the deficit fixed assets are as follows:
① Transfer the loss equipment from the deficit:
Debit: Pending property loss and losses 126000
Cumulative depreciation 24000
Credit: Fixed assets 150000
② When receiving the compensation from the responsible person:
Debit: Bank deposit 5000
Credit: Pending property loss and losses 5000
③ Approved carry-over net loss:
Debit: Non-operating expenditure 121000
Credit: 121000
5. Impairment of fixed assets
At the end of the period, if there are signs of impairment of fixed assets, the recoverable amount is lower than the book value, the impairment loss should be set aside for fixed assets.
Debit: Asset impairment loss [Amount of recoverable amount lower than book value]
Credit: Fixed asset impairment provision
[Note] The recoverable amount should be determined based on the higher of the net amount after deducting the disposal fee and the current value of the asset's expected future cash flow.
Once the impairment loss of fixed assets is confirmed, it shall not be redirected in the future accounting period.
When disposing of fixed assets, the provision for impairment of fixed assets that have been set up should be carried forward at the same time.
[Answer Analysis] The depreciation amount in 2015 = 21000x(1-5%) x5/15 = 6650 (yuan), the depreciation amount in 2016 = 21000x(1-5%) x4/15 = 5320 (yuan), by the end of 2016, the book value of fixed assets = 21000-6650-5320 = 9030 (yuan), higher than the estimated recoverable amount of RMB 7200, then 1830 yuan should be set aside, and the impact of the equipment on Company A's profit in 2016 is 5022 yuan (the impact of depreciation on profit and loss is 5320x60% + asset depreciation loss of RMB 1830).
Accounting entries for setting up fixed asset impairment provisions at the end of 2016:
Debit: Asset impairment loss 1830
Credit: Fixed asset impairment provisions 1830
Accounting entries can be said to be the soul of the accounting profession, the profession must be mastered by every accounting practitioner, and it is also a difficult bone for the majority of candidates to crack during the examination. In the process of mastering accounting entries, candidates must integrate and form a holistic thinking.
[Answer Analysis] The depreciation amount in 2015 = 21000x(1-5%) x5/15 = 6650 (yuan), the depreciation amount in 2016 = 21000x(1-5%) x4/15 = 5320 (yuan), by the end of 2016, the book value of fixed assets = 21000-6650-5320 = 9030 (yuan), higher than the estimated recoverable amount of RMB 7200, then 1830 yuan should be set aside, and the impact of the equipment on Company A's profit in 2016 is 5022 yuan (the impact of depreciation on profit and loss is 5320x60% + asset depreciation loss of RMB 1830).
Accounting entries for setting up fixed asset impairment provisions at the end of 2016:
Debit: Asset impairment loss 1830
Credit: Fixed asset impairment provisions 1830
Accounting entries can be said to be the soul of the accounting profession, the profession must be mastered by every accounting practitioner, and it is also a difficult bone for the majority of candidates to crack during the examination. In the process of mastering accounting entries, candidates must integrate and form a holistic thinking.
