Relief Question 5 on Accounting Practices

The contract between the buyer and the seller stipulates that the payment terms are 20, N 30, 2 means the cash discount rate of the purchase price, 10 means payment within 10 days (2% discount can be enjoyed for payment within 10 days), and so on. n 30 means that payment after 30 days is not entitled to full discount.

The payment terms are 1 10, 1000 sets of desks and chairs, and the unit price is 300 yuan for a set of 2% cash discount when paying within ten days. The amount of the discount is included in the finance expense.

At the time of sale: debit: accounts receivable 300000

Credit: Main Business Income (300000

Tax Payable - VAT Payable (Output Tax).

Received within 10 days, when receiving the payment:

Debit: Bank deposit 294000 (300000-300000x2%)

Finance 6000 (300000x2%) discount.

Credit: Accounts receivable payment terms are 1 20, 1000 sets of desks and chairs, and the unit price is 300 yuan to be paid within 20 days.

At the time of sale: debit: accounts receivable 300000

Credit: Main Business Income (300000

Tax Payable - VAT Payable (Output Tax).

Received within twenty days, when the payment is received.

Debit: Bank deposit 297000 (300000-300000x1%)

Finance Fee 3000 (300000x1%)Discount.

Credit: Accounts receivable 300,000

The payment terms are n 30, 1000 sets of desks and chairs, and the unit price is 300 yuan for each set of payment within thirty days.

Debit: Accounts receivable 300,000

Credit: Main Business Income (300000

Tax Payable - VAT Payable (Output Tax).

When the money is received within thirty days or more, the payment is made.

Debit: Bank deposit 300,000 Received at the total price (total price method).

Credit: Accounts receivable 300,000

2. 300,000 is a conversion formula for sales excluding tax.

Sales excluding tax) Sales including tax) 300,000 1 + VAT rate).

When sales occur: Debit: Accounts Receivable: 300000

Credit: Main Business Income (300000

When the discount is incurred: Debit: Finance Expense:

Credit: Cash.

The entries are:

Debit: Bank deposit 40000

Credit: Paid-up capital 40,000

Borrow: Bank deposit 10000

Credit: Long-term borrowing – principal amount of 10,000

Borrow: Fixed assets - house 20000

Credit: Bank Deposit 20000

Borrow: 16,000 for goods in stock (non-general taxpayer treatment).

Credit: Bank deposit 14000

Accounts Payable 2000

Debit: Bank deposit 15000

Accounts receivable 5000

Credit: main business income.

Tax Payable – VAT payable.

Borrow: Cost of main business 16000

Credit: 16000 goods in stock

Debit: Bank deposit 2500

Credit: Advance receivables 2500

Borrow: Management Expenses – Utilities 500

Management Expenses – 200 for office expenses

Credit: Bank deposit 700

Borrow: Non-operating expenses 300

Credit: Bank deposit 300

Debit: Finance Expense – Interest Expense 50

Credit: Long-term borrowings – Accrued interest 50

Balance Sheet:

Assets: Monetary funds: 32,500 Accounts receivable 5,000 Fixed assets 20,000 Total assets: 57,500

Liabilities: Accounts Payable 2000 Accounts Receivable 2500 Taxes Payable Long-term borrowings 10050 Total Liabilities:

Owner's Equity: Paid-up Capital 40,000 Undistributed Profits Total Owner's Equity:

Total liabilities and owners' equity: 57,500

Note: This question does not indicate whether the taxpayer is a general taxpayer or a small-scale taxpayer, and according to the situation, the value-added tax will be treated according to the small-scale taxpayer.

This question does not involve the payment of business tax, and the 5% business tax rate given in the question stem is not used.

If the retail store does not explain whether it is an individual industrial and commercial household, or the nature of the enterprise, the individual industrial and commercial household pays individual income tax and does not pay enterprise income tax, if it is a corporate income tax, the retail store in this question can basically be judged to meet the conditions of a small and low-profit enterprise, and the taxable income is less than 60,000 yuan, and the tax rate of 20% should be halved to levy enterprise income tax.

If you make a prepayment in the second quarter at a rate of 25%, you will borrow: income tax expense - current income tax expense.

Credit: Tax Payable - Corporate Income Tax Payable.

The tax payable becomes:

The total liabilities are:

Undistributed profits become: Owners' equity becomes:

Total liabilities and owners' equity: 57,500

The store did not give the net residual value rate and depreciation method, but fortunately, the depreciation will start to be accrued next month.

The interest of the bill makes the actual receipt greater than the face value of the bill, and the discount interest of the bill makes the actual receipt less than the face value of the bill, and the two are subtracted, either positive - the actual receipt is greater than the face value of the bill, or negative - the actual receipt is less than the face value of the bill; are the difference with the face value of the bill.

Is that okay?

After bookkeeping, it should be corrected with a red pen.

When the payment is recovered, it is recorded as 15,000 hours as follows.

Debit: Bank deposit 15000

Credit: Accounts receivable 15000

But the actual is only 1500, and the error is not 13500, which should be eliminated.

Debit: Bank deposit 13500 (red).

Credit: Accounts receivable 13,500 (red).

Supplement the following methods of correcting wrong accounts.

1. Scribing correction method.

Refers to the method of correction by scribing. This method is suitable for bookkeeping and before closing, if it is found that there is an error in the account book, and there is no error in the accounting voucher, it is purely a clerical error that causes the error in the text or numbers when registering, and the cross-line correction method should be used to correct it.

The specific method is to first erase all the wrong words or numbers with red lines; Then fill in the correct record in blue above the underline; After the correction, the handler should stamp the underlined end to clarify the responsibility. Attention should be paid to the following issues when correcting the line: when crossing the line, if it is a text error, only the wrong part can be marked, and if it is a number error, all the numbers should be crossed out and not only the wrong number should be crossed.

Care must be taken to make the original incorrect handwriting legible.

2. Red letter reversal method.

The red-letter correction method is a method of reversing or subtracting the number of original records with red-letter letters to correct or adjust the erroneous records in the books. This method is suitable for the situation where bookkeeping errors are found due to errors in bookkeeping vouchers. A red-letter record indicates a write-off from the original record.

The specific correction operation method is: for example, there is an error in the direction, account or amount that should be debited and credited in the accounting voucher on which the accounting is based, resulting in an error in the account book. First of all, fill in a writing voucher that is the same as the original voucher with red letters, indicate the cancellation voucher in the summary, and register the amount in red letters to write off the original account book records, and then fill in a correct accounting voucher with blue letters, and register the accounts accordingly.

The red-letter reversal method is applied in order to correctly reflect the correspondence between the amount incurred and the account in the account book.

3. Supplementary Registration Law.

A way to correct an error in the books of accounts by making up a difference. This method can be used when there is an error in the amount of the accounting voucher on which the accounting is based, and the wrong amount is less than the amount that should be recorded, resulting in the underrecording of the amount recorded in the account book, and there is no error in the accounting account and the direction of accounting.

The specific method is: fill in an accounting voucher, whose accounting account and loan direction are consistent with the original accounting voucher, but the amount is undercredited. And in the summary, indicate the amount underrecorded in the supplementary accounting voucher and record it accordingly.

1. Borrow: manufacturing cost 900

Credit: Cash on hand 900

2. Borrow: bank deposit 2 000 000

Credit: long-term deposits 2 000 000

3. Borrow: raw materials - A materials 30 800

Tax Payable - VAT Payable (Input Tax) 5 100 Credit: Accounts Payable 35 900

4. Debit: Accounts payable 35 900

Credit: Notes payable 35 900

5. Borrow: profit and loss of assets to be disposed of - profit and loss of current assets to be disposed of 20 000 Credit: raw materials - material B 20 000

Borrow: 5 000 for administrative costs

Non-operating expenses 3 000

Other receivables 12,000

Credit: Profit or loss on property to be disposed of - Gain or loss on current assets to be disposed of 32 0006, Credit: Employee remuneration payable 15 600

Credit: cash on hand 15 600

7. Borrow: Inventory goods - product A 28 000

Product B 19 000

Credit: Production Costs - Product A 28 000

Product B 19 000

8. Borrow: bank deposit 11 700

Credit: Other business income 10,000

Tax Payable - VAT Payable (Output Tax) 1 700 The ninth transaction is due to the requirement to carry forward costs.

Hope it helps!

Question 8 should make two accounting entries. 1 is revenue recognition and 2 is carry-forward costs.

1: Debit: Bank deposit.

Credit: Other business income.

Tax Payable - VAT Payable (Output Tax).

2: Borrow: Other business costs.

Credit: raw materials.

(1) The amount of consumption tax payable on commissioned processing of tobacco = (110000 + 40000) (1-30%) * 30% = yuan).

Pick D. (2) The amount of consumption tax paid for tobacco that is allowed to be deducted = 5160 + 64286-39760 = 29686 (yuan).

Choose C. (3) The actual amount of consumption tax to be paid when selling cigarettes = 6 * 250 * 200 * yuan).

Pick B. (4) Borrowing: entrusting processing materials.

Tax payable ——— VAT payable (input tax).

The amount of tax to be deducted ——— the consumption tax to be deducted.

Credit: Bank deposit option B.

That's right! 1.The legislative purpose of the Accounting Law.

This Law is enacted in order to standardize accounting behavior, ensure the authenticity and completeness of accounting materials, strengthen economic and financial management, improve economic efficiency, and maintain the order of the socialist market economy.

2.Scope of application of the Accounting Law.

State organs, social banking associations, companies, enterprises, public institutions and other organizations (hereinafter collectively referred to as transportation units) must handle accounting affairs in accordance with this Law.

Yes, the Accounting Law is the highest legal norm in China's accounting management system and is the concrete embodiment of the Accounting Law.

Correct, because the premise of this sentence is the legal system of accounting.

The amount of the increase in the current period is recorded in the account, which becomes the amount of the increase in the current period; The amount of the decrease in the current period is recorded to roll over and become the amount of the decrease incurred in the current period; The difference between the increase and the decrease is called the balance, and the balance is divided into the opening balance and the closing balance according to the time. The basic relationship is as follows:

Closing balance = opening balance + increase in the current period - decrease in the current period.

The four parts in the above equation are also known as the four amount elements of the account.

For Asset, Cost, Expense Class Accounts:

Closing Balance = Opening Balance + Debit Amount in the Current Period - Credit Amount in the Current Period.

For Liabilities, Owners' Equity and Income Accounts:

Closing Balance = Opening Balance + Current Credit Amount - Current Debit Amount.

Therefore, this question is preceded: c

Do you want to take the accounting qualification certificate? It's simple. Come on... I'm from Hebei... The exam I took last year... Once Tong Tong guessed and fought. The exam questions are basically the original questions on the review materials... I wish you success.

Bank Deposit Balance Reconciliation Formula: Bank Deposit Balance + Received by the Enterprise but Not Received by the Bank - Paid by the Enterprise Unpaid by the Bank = Bank Journal of the Enterprise + Received by the Bank but Not Received by the Enterprise - Paid by the Bank and Unpaid by the Enterprise 41100 + 3000 + 1500-2000 + (3300-3000) = 4390046500 + 1600-7200 + 3000 = 43900