How to account for lost fixed assets when they are recovered?

Agree with this teacher. At that time, when you lose it, don't just go into the non-operating expenses, and take the property profit and loss to be disposed of. If you feel that there is no play, you will turn to non-operating expenses. If you get it back, if you don't rush the non-operating expenses every other year.

Borrow: Fixed assets.

Borrow; Non-operating expenses.

Credit: Accumulated depreciation.

When the property is transferred to be disposed of, it is the fixed assets and the accumulated depreciation that are transferred together. However, when the profit or loss of the property to be disposed of is converted to non-operating expenses, it is a matter of one go. Now that I have found it, if I can find the original price and depreciation of fixed assets, I will have to restore them.

On New Year's Eve, you have to transfer the profit and loss adjustment account of the previous year according to what the teacher said, because it is already the New Year's Eve, and your non-operating expenditure account must also be transferred to the profit distribution account, and the year is over.

Borrow: Fixed assets.

Credit: Prior Year Profit and Loss Adjustment.

Credit: Accumulated depreciation.

The same goes for the recovery of fixed assets and accumulated depreciation.

For these adjustments, the back of the voucher and the summary must be clearly written down and an explanation must be attached. Otherwise, in the future, the accounts will be reversed, and the audit will not be clear and messy, and they will all be forgotten.

I hadn't been here for a while, and I was late to see the problem.

Fixed assets generally do not have a surplus, if there is, it is a correction of errors in the previous period, and it is reversed through the adjustment of profit and loss in previous years.

Borrow: Fixed assets.

Credit: Prior Year Profit and Loss Adjustment.

Also, here's what I've seen from other **.

In the spirit of the new standard, it doesn't matter if you enter non-operating income. However, there is a problem that external regulators are sometimes very stubborn and completely criticize the provisions of the previous errors, believing that there can be no surplus income in the non-operating income, so it is also technically a way to offset through management expenses.

Recorded as non-operating income.

The fixed assets of the enterprise that lose Hui Bila shall be included in the profit and loss of the property to be disposed of for accounting, and after the approval of the company, it will be included in the non-operating expenses and other accounts, and its entries are: 1. When the assets are found to be lost:

Borrow: Loss and Excess of Property to be Processed - Excess of Non-current Slippery Assets to be Handled, Accumulated Depreciation, Credit: Fixed Assets.

2. If it is lost and then recovered, the above entries will be reversed and depreciation will be supplemented.

3. When receiving compensation from the insurance company:

Borrow: Bank Deposits, Credit: Pending Property Loss and Excess - Pending Loss and Excess of Non-current Assets.

4. After approval by the leader

Borrow: Non-operating expenses, Credit: Losses and losses of property to be disposed of - Losses and losses of non-current assets to be disposed of.

If an enterprise loses damage or loss of hidden branches of assets due to poor management, it is necessary to include the balance after deducting the responsible person or insurance compensation from the net book value of the assets into the non-operating expense account, and the specific entries are as follows:

1. When assets are lost

Debit: Excess of property to be disposed of - Excess of non-current assets to be disposed of (original value - depreciation accrued), Debit: Accumulated depreciation (depreciation accrued), Credit: Fixed assets - (original value).

2. If found, flush back the above entries.

3. If you can't find it, you will receive the compensation entry of the responsible person

Borrow: Bank Deposits, Credit: Pending Property Loss and Excess - Pending Loss and Excess of Non-current Assets.

4. After the approval of the leadership, Tong will be carried and approved

Borrow: Non-operating expenses, Credit: Losses and losses of property to be disposed of - Losses and losses of non-current assets to be disposed of.

1. Before approval, borrow: property loss and overflow to be disposed of.

Accumulated depreciation. Credit: Fixed Assets.

2. After approval:

Borrow: Other receivables (insurance claims or negligence claims).

Non-operating expenses.

Credit: Pending property loss and overflow.

Fixed assets are tangible assets held by an enterprise for the production of goods, the provision of labor services, leasing or operation and management, and the useful life is more than one fiscal year.

1. Depreciation is provided.

2. There is no need to flush the fee.

3. The overcharged compensation shall be included in the non-operating income.

Borrow: Pending Property Gains and Losses - Fixed Assets 5750

Accumulated depreciation 3250

Credit: Fixed at this 9000

Debit: Other receivables 6000

Credit: Profit or loss on property to be disposed of - Fixed assets 6000 Borrow: Profit or loss on property to be disposed of - Fixed assets 250

Credit: Non-operating income 250

Borrow: Accumulated depreciation credit for non-operating expenses: The original voucher of fixed assets can be written with a description of the situation, the reason for the loss, etc., stamped with the official seal, and signed by the boss.

3,000 reverse settlements, 6,000 management expenses, and direct fixed assets liquidation have been provided.

What depreciation do you mention in this case? It is equivalent to the liquidation of fixed assets.

【Answer】 According to the Contract Law of the People's Republic of China.

Article 223 stipulates that the lessee shall properly keep the leased property, and shall be liable for damages if the leased property is damaged or lost due to improper storage. Therefore, this issue involves two matters, one is the payment of the lease fee, and the other is the compensation for the loss of assets.

Although the lease fee is paid in a lump sum, the income should still be recognized in installments according to the lease term, and the actual lease income of each period can be recognized by the average method of the lease period or the effective interest rate method according to the situation, and the depreciation of the leased assets accrued in each period shall be regarded as the corresponding cost.

When the company discovers the loss of fixed assets, it will treat the remaining rent of the lost assets as compensation according to the agreement. In accounting, it should be handled according to the procedures for the disposal of fixed assets, and the original value of fixed assets, depreciation and the determined compensation should be included in the disposal of fixed assets. Because Company A had previously recognized the rent as a lump sum income, it should be adjusted according to the error in the previous period.

If it is judged to be a non-material error, the rental income may not be adjusted, but only the original value and depreciation of the fixed assets may be transferred to the disposal of fixed assets, and the difference may be included in the profit or loss for the current period.

In terms of taxation, companies need to pay attention to the collection and provision of information in accordance with the relevant provisions of pre-tax deduction of property losses, and if they can provide valid and complete proof of loss as required, they can be treated as property losses. If it cannot be provided, it may be treated as a sale of fixed assets used by oneself, and if the sale cannot be determined or is considered to be obviously unreasonable, the in-charge tax authorities will have the right to verify and approve in accordance with the relevant provisions of the tax law (enterprise income tax law and its implementing regulations, provisional regulations on value-added tax and its implementation rules, etc.).

Therefore, we suggest that Company A request Company B to report the case to the public security organ, and the relevant information obtained can be used as proof that it is indeed an asset loss rather than a disguised sale of assets, and it is also an important proof of the pre-tax deduction of property losses (Company B also needs to prove the relevant compensation expenses incurred before tax).