Accounting Practice Exam Accounting Entry Questions Help answer

Borrow: Procurement of goods (including buyers and freight).

Tax Payable – VAT payable (input tax).

Credit: Accounts payable.

Borrow: Administrative expenses.

Credit: Employee remuneration payable (the new standard abolishes the benefit payable) Credit: raw materials.

Credit: material procurement.

1. Borrow: material procurement.

Tax Payable VAT (input tax) payable

Credit: Accounts payable.

2. Borrow: management expenses and welfare expenses.

Credit: Welfare expenses payable.

3. Borrow: raw materials.

Credit: Material procurement.

1.The purchase price and freight of raw materials should be included in the cost of raw materials. The input VAT of VAT is deductible and is an off-price tax. The freight should be deducted at 7%, and the rest is included in the cost of raw materials, which is included in the price.

2.Borrow: Production Costs Manufacturing Expenses.

Credit: Employee Compensation Payable.

3.Borrow: raw materials.

Credit: Bank Deposits Accounts Payable.

1. If you are a general taxpayer:

Borrow: raw materials [purchase price + freight] (PS: under the actual cost method, if the material has not been inspected in the warehouse, the "materials in transit" account is used).

Tax Payable - VAT Payable (Input) [VAT].

Credit: Accounts payable.

If there is a formal invoice for transportation, (freight*7%) can also be used as input tax for deduction. Then the freight after deducting taxes is also included in the "raw materials").

If you are a small-scale taxpayer:

Borrow: raw materials [purchase price + freight + input tax] (PS: under the actual cost method, if the material is not inspected in the warehouse, the "materials in transit" account is used).

Credit: Accounts payable.

For small-scale taxpayers, input tax cannot be deducted, so it cannot be separately deducted, and is also included in the "raw materials" ("materials in transit").

2. Borrow: production cost.

Manufacturing costs. Management fees.

Selling expenses. ...(Allocated by Department).

Credit: Employee Compensation Payable - Employee Welfare Expenses (Gross Salary * 14%)

3. If the actual cost method is adopted:

Borrow: raw materials.

Credit: Supplies in transit.

If the planned costing method is used:

Borrow: raw materials.

Credit: Material procurement.

The Material Cost Variance is also carried forward

1. Borrow: Taxes payable on raw materials or materials in transit (if the planned cost method is adopted, it will be included in the "material procurement") - VAT (input tax) payable (according to the tax law, the freight can be deducted from the input tax at 7%, and the other 93% is included in the cost of materials

Credit: Accounts payable.

2. Employee welfare expenses should be included in different subjects according to the different departments of employees, generally as follows:

Borrow: Production costs or manufacturing expenses (production floor workers).

Administrative expenses (administrative staff).

Sales expenses (dedicated sales agency personnel).

R&D expenditures (personnel who develop intangible assets), etc.

Credit: Employee Compensation Payable - Welfare Payable.

3. Under the actual cost method:

Borrow: Raw Materials Loan: Materials in Transit.

under the planned costing method.

Borrow: Raw Materials Credit: Material Purchases, and then debit or credit "Material Cost Variance" according to the difference

1. Borrow: material procurement (freight is included in the cost).

Tax Payable – VAT payable (input tax).

Credit: Accounts due.

Actual cost method is recorded in: materials in transit; Recorded under the planned costing method: Material Purchase.

2. Borrow: production costs, etc.

Credit: Employee Compensation Payable – Employee Benefits.

3. Borrow: raw materials.

Credit: Material procurement.

Agree with the above, but there should be a breakdown of management expenses, manufacturing expenses, and sales expenses.

Borrow: Bank deposit: 80000

Credit: Inventory Commodities - Product A: 80,000

Debit: Accounts receivable: 45000

Credit: Goods in Stock - Product B: 45,000

Borrow: Finished products - A products: 65400

Finished product - B product: 36000

Credit: Production Cost: 101400

It's too little, so let's do so much.

1. Borrow: bank deposit 80,000

Credit: main business income 80,000

2. Debit: accounts receivable 45000

Credit: main business income 45000

3. Borrow: the cost of main business is 101400

Credit: Goods in stock - product A 65400

bProduct 36000

4. Borrow: sales expenses 1520

Credit: Bank Deposit 1520

5. Borrow: business tax and surcharge 8750

Credit: Tax Payable - Excise Tax 8750

6. Borrow: management fee 350

Credit: Other receivables - Wang Yi 350

7. Borrow: management fee 1000

Credit: Cash on hand 1000

8. Borrow: bank deposit 49500

Credit: Accounts receivable - Red Star Company 49500

9. Borrow: management fee 200

Credit: 200 expenses to be amortized

10. Borrow: 3000 profit or loss of property to be disposed of

Credit: Fixed assets 3000

11. Borrow: Bank deposit 3020

Credit: Other Business Income 3020

12. Borrow: main business income 125,000

Other business income 3020

Credit: Profit for the year 128020

12. Borrow: 113220 profit for the year

Credit: Cost of main business 101400

Sales tax and surcharge 8750

Administrative fee 1550

Selling expenses 1520

13. Borrow: income tax expense 3700

Credit: Tax Payable - Income Tax 3700

14. Borrow: tax payable - consumption tax 8750

Income tax 3700

Credit: Bank deposit 12450

(1) Borrow: trading financial assets - cost 1000 interest receivable 25

Return on investment 4

Credit: Bank Deposit 1029

2) Borrow: Interest receivable 25

Credit: Investment income 25

Borrow: Bank Deposit 25

Credit: Interest receivable 25

3) Borrow: Fair value change gain or loss 10

Credit: Trading Financial Assets - Change in Fair Value 10

4) Same as (2).

5) Same as (3).

6) Same as (2).

7) Borrow: Bank deposit 1010

Trading financial assets – change in fair value 20

Credit: Trading financial assets – cost 1000

Investment income 30

Borrow: Investment income 20

Credit: Change in fair value 20

1. Borrow: trading financial assets - cost 1000

Interest receivable 25

Finance Costs 4

Credit: Bank Deposit 1029

2. Borrow: bank deposit 25

Credit: Interest receivable 25

3) Borrow: Fair value change gain or loss 10

Credit: Trading Financial Assets - Change in Fair Value 10

Debit: Interest receivable 25

Credit: Investment income 25

4. Borrow: bank deposit 25

Credit: Interest receivable 25

5. Borrow: Fair value change gain or loss 10

Credit: Trading Financial Assets - Change in Fair Value 10

Debit: Interest receivable 25

Credit: Investment income 25

6. Same as 47, borrow: bank deposit 1010

Trading financial assets – change in fair value 20

Finance Costs 5

Credit: Trading financial assets – cost 1000

Fair value change gain or loss 20

Return on investment 15

Accounting Entries:

1) Borrow: 2500 cash in hand

Credit: Bank deposit 2500

2) Borrow: raw materials 50,000 loan: bank deposit 50,000

3) Borrow: Bank deposit 8000

Credit: Short-term borrowing 8000

Debit: Accounts payable--- Company A's loan 8000 Credit: Bank deposit 8000

4) Borrow: Bank deposit 160,000 Loan: paid-in capital 160,000 (5) Borrow:

Manufacturing expenses 30,000 Credit: Raw materials 30,000 (6) Loan: Fixed assets--- Cars 200,000 Credit:

Bank deposit 200,000 Let's answer so much first.

It's too late today, I'll help you do the question tomorrow when I'm free.

1.Borrow cash 2500 and bank deposit 25002Borrow 50,000 raw materials and bank deposits 500003

Borrowing accounts payable 8000 loans short-term borrowings 80004Borrowed bank deposits 160,000 loan paid-in capital 160,000 5Borrow 30,000 production costs and borrow 30,000 raw materials 6

Borrowing 200,000 bank deposits from fixed assets 2000007Borrow short-term borrowings 30,000 and bank deposits 30,000 82000 for manufacturing costs and 2000 for raw materials

9.Borrowing bank deposits 100,000 loans main business income 100,000 borrowing main business costs 90,000 loans inventory goods 90,000 1016,500 bank deposits were borrowed from the employee compensation payable

The T-type account is not easy to do here, but it should not be difficult to have an entry, you should be able to do it, if you ask for this set of questions to write the tax, you are asking me and I will write it for you.

A batch of raw materials was purchased from Company M, and the price was 10,000, and the materials were inspected and received into the treasury, and the payment has not yet been paid.

Borrow: Raw Materials 10,000 Credit: Accounts Payable - Company M 10,000

Daily sales of 500 pieces of product A The price of each piece is 100 The cost is 60 The product has been sent out The cost is carried forward immediately The payment has been deposited in the bank.

Debit: Bank deposit 500*100=50000

Credit: main business income 50,000

Borrow: The cost of main business is 500*60=30000

Credit: Inventory goods - A commodity 30000

3.The power supply department notified that the electricity bill payable this month is 30,000, of which 25,000 are for the production workshop and 5,000 for the administrative department, and the payment will be made by bank transfer immediately.

Borrow: Production cost 25000

5000 for administrative expenses

Credit: Bank deposit 30000

The contract stipulates that the supply amount is 100,000, and the company will pay more than 60% of the total payment in advance through the bank, and the goods will be delivered immediately after acceptance.

Borrow: Bank deposit 60000

Credit: Accounts receivable in advance - Company D 100,000 * 60% = 60,000

More than 40% of the money received by Company D through bank transfer was received on the same day.

Debit: Bank deposit 100,000*40%=40,000

Accounts receivable in advance - 100,000 * 60% = 60,000 for company D

Credit: main business income 100,000

(1) Borrow: raw materials - A: 10,000

Tax Payable – VAT (input tax) payable 1700

Credit: Bank Deposits: 11700

2) Borrow: production cost - a 30000 - b 20000

Manufacturing cost: 5000

Management Fee: 1000

Credit: Raw Materials: 56,000 (3) Loan: Production Costs — A 40,000

b 50000

Manufacturing cost: 20000

Administrative expenses: 45000

Credit: Employee compensation payable 155,000

4) Borrow: bank deposits 200,000 accounts receivable 127,600

Credit: main business income 280,000

Tax payable – VAT payable (output tax) 47600

5) Borrow: sales expenses - advertising expenses 20,000 Credit: bank deposits 20,000

6) Borrow: manufacturing expenses - depreciation expenses 20000 management expenses - depreciation expenses 2000

Credit: Accumulated depreciation 22000 (7) Credit: Financial expenses - interest 3800

Credit: Bank Deposits 3800 (8) Loan: Production Costs - A 20000

b 25000

Credit: manufacturing expenses — a 20,000

b 25000

9) Borrow: 90000 items in stock

Credit: Production cost — a 90,000

10) Borrow: Cost of Main Business 98000 Credit: Inventory Commodities 98000 (11) Borrow: Main Business Income 280000 Other Business Income 20000

Credit: Profit for the year 300,000 Borrow: Cost of main business 98,000

Other operating costs 12000

Selling expenses 20000

Management fee 48000

Finance Fee 3800

Credit: Profit for the year 181800

12) Borrow: 29550 profit for the year

Credit: Income tax expense 29550

13) Loan: Profit Distribution - Undistributed Profits 8865 Credit: Profit Distribution - Surplus Reserve (Statutory or Optional) 8865

1.Borrow: Raw material - A material 10000

Tax Payable - VAT Payable (Input Tax) 1700

Credit: Bank Deposits: 11700

2.Borrow: Production cost - product A 30000

bProduct 20000

Manufacturing cost: 5000

Management Fee: 1000

Credit: Raw materials 56000

3.Borrow: Production cost - product A 40000

bProduct 50000

Manufacturing cost: 20000

Administrative expenses: 45000

Credit: Employee compensation payable 155,000

4.Debit: Bank deposit 200000

Accounts receivable 127600

Credit: main business income 280,000

Tax Payable - VAT Payable (Output Tax) 476005Debit: Selling expenses 20000

Credit: Bank Deposit 20000

6.Borrow: Manufacturing cost 20000

Management fee 2000

Credit: Accumulated depreciation 22000

7.Debit: Finance Fee 3800

Credit: Interest payable 3800

Debit: Interest payable 3800

Credit: Bank Deposit 3800

8.Borrow: Production cost - a product 20000

bProduct 25000

Credit: Manufacturing expenses 45000

9.Borrow: Inventory Goods - Product A 90000

Credit: Production Costs - A Product 90000

10.Borrow: Cost of main business 98000

Credit: 98000 goods in stock

11.Borrow: main business income 280,000

Other business income 20000

Credit: Profit for the year 300,000

Borrow: profit for the year 181800

Credit: Cost of main business 98000

Selling expenses 20000

Management fee 48000

Finance Fee 3800

Other operating costs 12000

12.Debit: Income tax expense 29550

Credit: Tax Payable - Income Tax Payable 29550

13.Borrow: Profit Distribution - Withdrawal of Surplus Reserve 8865 Credit: Surplus Reserve 8865