Accounting Entry Compilation Skills Based On Accounting Formula

The application of the accounting subjects is incorrect, the amount of the amount is not correct, or the balance of the borrowers and the borrowers are not balanced.

Through the exploration of many years of teaching and practice, the author thinks that there is an inevitable connection between the compilation of accounting records and the formula of accounting calculation.

If we prepare accounting entries from the perspective of accounting formula, we can ensure foolproof and clear at a glance.

This article will be explained from the following aspects for reference by colleagues.

Disposal of trading financial assets (for sale)

The paction financial assets held by enterprises will generate profits and losses when disposing of them, and correctly identifying the disposal of profits and losses is the main accounting problem of such businesses.

The calculation of profit and loss on disposal of trading financial assets can be expressed as follows:

Disposal of profit and loss = actual price received -

The book value [the debit balance of the "cost" subsidiary ledger + the debit balance of the "fair value change" ledger (or: - credit balance)] - dividends receivable (or interest receivable).

The balance of the "cost" subsidiary ledger in the formula is summed up in the same direction and reduced in opposite directions.

It should be noted that the "Dividend Receivable (or receivable interest") that is deducted from the above formula is the cash dividends or bond interest that an investment enterprise has already included in the receivable items. It still fails to recover the disposition of the paction financial assets. Therefore, according to the prudence principle, the profit should not be included in the disposal of profits and losses, and the investment income of the next purchase unit should be recognized during the holding period.

If the result of the upper formula is positive, it belongs to the disposition proceeds and should be credited to the "investment income" subject. If it is negative, it belongs to the disposition loss and should be credited to the borrower of the "investment income" subject.

How to compile accounting entries for paction financial assets disposal by calculating formulas?

In May 18th 1:2014, Xinghua Company purchased 50000 shares of a company's stock from the two level market as a trading financial asset accounting.

In March 10, 2015, a company announced the profit distribution plan of 2014, distributing cash dividends of 0.2 yuan per share, and is scheduled to be issued in April 20, 2015.

In April 1, 2015, Xinghua Company sold the shares of a company owned by the Xinghua Company, and actually received a price of 328000 yuan.

On the day of stock sale, the balance of the subsidiary account of a company's trading financial assets is: the "cost" subsidiary ledger balance is 258000 yuan, and the "fair value change" ledger balance is 48000 yuan.

Requirements: prepare the accounting entries for Xinghua Company to sell the paction financial assets in April 1, 2015.

In order to prepare the accounting entries for Xinghua Company to sell the paction financial assets, first, the disposal gains and losses must be calculated.

Then, the borrower and credit subjects in the relevant accounting entries are identified with the above expressions.

(1) for the actual sale price, bank deposits should be increased, that is, "bank deposit 328000" should be debited.

(2) the brackets are the minus marks, which means that the two subsidiary accounts of the trading financial assets should be reduced (or sterilized). At the same time, they are all asset accounts, so they should be credited, that is to say, "paction financial assets, a company stock (cost) 258000" and "trading financial assets - a company's share (fair value change) 48000".

(3) the cash dividends payable should be deducted. Since the company declared a cash dividend in March 10, 2015, Xinghua Company has borrowed the "Dividend Receivable" subject, credited the "investment income" subject, and the cash dividend has not been recovered on sale in April 1, 2015, so the "dividend payable 10000" should be credited.

(4) for the calculation result, because of the positive number, the investment income 12000 should be credited.

It is concluded that the accounting entries for the sale of the paction financial assets are as follows:

Borrow: bank deposit 28000

Loans: trading financial assets - a company stock (cost) 258000

A company's share (fair value change) 48000

Dividends payable 10000

Investment income 12000

At the same time, the net profit and loss of the accumulated fair value change that has been recognized during the holding of the paction financial assets should be recognized as the investment income in the current period.

Two. Disposal of intangible assets (for sale)

Enterprise owned

If the service life is limited, it is necessary to amortize its value within its estimated useful life, and it is also necessary to make allowance for impairment when impairment occurs.

When selling intangible assets, the profit and loss must be calculated. The calculation of the profit and loss can be expressed as follows:

Sale profit and loss = actual pfer income - book value of the sale of intangible assets (book balance - accumulated amortization - accumulated provision for impairment) - related taxes and fees payable.

If the result of the upper formula is positive, it belongs to the sale proceeds and should be credited to the "non business income" subject; if it is a negative number, it belongs to the sale loss and should be credited to the "non operating expenses" subject.

How to compile accounting entries for intangible assets through calculation formula?

Examples are as follows:

In August 10th 2:2014, Xinghua Company will sell a non patented technology.

The book balance of the non patent technology is 6 million 500 thousand yuan, the accumulated amortization amount is 3 million yuan, the provision for impairment is 1 million 600 thousand yuan, and the selling price is 7 million 600 thousand yuan.

The applicable business tax rate is 5%, assuming that other related taxes and charges are not considered.

Request: prepare the accounting entry for Xinghua Company to sell the intangible asset in August 10, 2014.

First, based on the above formula, the expression formula of sales profit and loss is derived.

Then, the borrower and credit subjects in the accounting entry are determined according to the above expressions.

(1) for the actual pfer income, bank deposits should be increased, that is, "bank deposit 7600000" should be debited.

(2) the brackets are the minus marks, indicating that the balance of the subjects of "intangible assets", "accumulative amortization" and "impairment of intangible assets" should be deducted separately (or eliminated), that is, the "intangible assets 6500000" should be credited, and the total accumulative amortization 3000000 and the 1600000 allowance for intangible assets will be debited.

3. The business tax payable for the sale of intangible assets should be deducted from the profit or loss of the sale, and the tax payable should be increased. Therefore, it should be credited to the "payable tax and business tax payable 380000".

(4) for the result of calculation, because it is positive, it should be credited with "5320000 of non operating income".

Thus, the accounting entries for the sale of the intangible assets can be sorted out as follows:

Borrow: bank deposit 7600000

Accumulated amortization 3000000

Impairment allowance for intangible assets 1600000

Loan: intangible assets -- non patented technology 6500000

Tax payable - business tax payable 380000

Non operating income - disposal of illiquid assets 5320000

The profit and loss of foreign exchange pactions refers to the difference between foreign currency accounts and foreign exchange accounts when they are converted into bookkeeping standard currencies because of different accounting time and exchange rate.

At the end of the term, in order to measure the profits and losses of foreign currency accounts, enterprises need to calculate the exchange gains and losses (or exchange balances) of foreign currency accounts and make an adjustment of equivalents.

The calculation of the profit and loss can be expressed as follows:

The final exchange gains and losses = the final balance of foreign currency accounts * the final spot exchange rate. When the foreign currency paction occurs at the beginning of this period and the current period, the foreign currency account shall be converted into the amount of the bookkeeping standard currency by the corresponding exchange rate.

The result of the above formula is whether exchange earnings or exchange losses should be determined according to the nature of foreign currency accounts.

If the foreign currency monetary assets account is positive, the result is foreign exchange earnings. The amount of foreign currency monetary assets should be increased. Otherwise, if the calculation result is negative, it is a foreign exchange loss, and the amount of foreign currency monetary assets should be reduced.

If the foreign currency monetary liability account is positive, it is a foreign exchange loss. It should be adjusted to increase the amount of foreign currency debt account. If the calculation result is negative, it belongs to the foreign exchange earnings, and the amount of foreign currency debt account should be reduced.

By calculating the profits and losses of the foreign exchange accounts at the end of the exchange, and summarizing them, we can get the net profit and loss in the current period, and then enter into the "financial expenses" and "in construction projects" according to the specific circumstances of the enterprises.

Examples are as follows:

Example 3: Xinghua Company's bookkeeping standard currency is RMB, and the foreign currency business is converted to the spot exchange rate at the date of trading, and the exchange gains and losses are calculated on a monthly basis.

The spot exchange rate in August 31, 2014 was 1: 6.18.

The final balance of foreign currency accounts in August 31, 2014 is shown in the following table:

Xinghua Company's foreign currency pactions or events occurred in September 2014 are not as follows:

(1) in September 6th, a foreign investor received $600000 in foreign currency capital. The spot exchange rate was 1:6.17 on that day, and the exchange rate stipulated in the investment contract was 1:6.25.

(2) in September 15th, imported machinery and equipment from abroad, the price of $450000, has not yet been paid, the spot exchange rate is 1:6.14.

The machine is in the process of installation and commissioning. It is expected to be completed and delivered in December 2014.

(3) in September 22nd, the number of products sold abroad totaled $240000, and the spot exchange rate was 1:6.14 on that day. The amount has not yet been received.

(4) in September 26th, foreign currency deposits were repaid to US $220000 payable in August, and the spot exchange rate was 1:6.15.

(5) in September 30th, the amount of accounts receivable received in August was US $360000, and the spot exchange rate was 1:6.15.

Requirements: compile the relevant entry entries of Xinghua Company at the end of 9 2014.

Calculate the exchange gains and losses of Xinghua Company's foreign currency accounts in September, and summarize the net profit and loss of the company in September.

According to the setting conditions, the company had only 3 foreign currency accounts in the early September, and no new foreign currency accounts were added to the foreign currency business in September. Therefore, according to the foregoing formula, the calculation of foreign currency account exchange gains and losses this month is as follows:

(1) exchange gains and losses of bank deposits in foreign currency accounts = (140000+600000220000+360000) * 6.15- (865200+600000 x 6.17-220000 * 6.15+360000 * 6.15) =-159000 (yuan)

Due to the negative result of the calculation, as mentioned above, the exchange loss occurred in the foreign currency account this month, and the foreign currency deposit account should be reduced. That is, the "bank deposit - US dollar household 159000" should be credited.

(2) the exchange gains and losses of accounts receivable foreign currency accounts = (560000+240000-360000) * 6.15- (460800+240000 * 6.14-360000 * 6.15) =-14400 (yuan)

Because the calculation result is negative, as mentioned above, the foreign currency account is also a foreign exchange loss this month. The accounts receivable of foreign currencies should be reduced. That is to say, "accounts receivable - US dollar households 14400" should be credited.

(3) exchange gains and losses of accounts payable foreign currency accounts = (220000+450000-220000) * 6.14- (1359600+450000 * 6.14-220000 * 6.15) =-2100 (yuan)

Due to the negative result of the calculation, as mentioned above, the foreign currency account occurs in exchange earnings this month, and foreign currency accounts payable should be reduced. That is to say, "accounts payable - US dollar households 2100" should be debited.

By summarizing the above (1), (2) and (3) calculation results, we can get the net profit and loss net loss =159000 (loss) +14400 (loss) -2100 (benefit) =171300 (yuan) of the company in September, which is the exchange loss.

According to the setting conditions, Xinghua Company's foreign currency business is in the process of production and operation. Therefore, the exchange loss occurred in September should be recorded in the "financial expense" subject, that is, the "financial cost - exchange gains and losses 171300" should be debited.

To sum up, the relevant accounting entries for Xinghua Company's exchange gains and losses at the end of 9 are as follows:

Borrowing: accounts payable - US $2100

Financial charges - exchange gains and losses 171300

Loan: bank deposit - US dollar 159000

Accounts receivable - US $14400.

Four, concluding remarks

The above analysis involves only a few aspects of accounting business. It is the author's shallow view of how to compile accounting entries through accounting formula, and it is difficult to sum up the whole.

If the accountants can fully grasp the method of preparing the accounting entries, they will be able to go all out in order to ensure that they are safe and efficient.

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