Accounting treatment of the retirement of fixed assets, how to deal with the accounting of the retir

There is no difference in accounting treatment, but there is a difference in the scrapping procedure. Fixed assets that are scrapped in advance need to be deducted before tax can be deducted after being approved by the tax accountant firm. However, fixed assets that are normally scrapped do not need to go through these procedures.

The accounting treatment of the retirement of fixed assets is as follows:

1) Fixed assets are transferred to liquidation.

Borrow: Disposal of fixed assets.

Accumulated depreciation. Provision for impairment of fixed assets.

Credit: Fixed Assets.

2) Clean-up costs incurred, etc.

Borrow: Disposal of fixed assets.

Credit: Bank deposits.

3) Receipt of the price of ** fixed assets.

Borrow: Bank deposit.

Credit: Disposal of fixed assets.

If it is a movable property such as machinery and equipment, it is necessary to calculate and pay VAT. Then, borrow: bank deposit.

Credit: Disposal of fixed assets.

Tax Payable – VAT payable (output tax).

4) ** is immovable property, such as houses and buildings, etc., subject to business tax. Then, borrow: disposal of fixed assets.

Credit: Tax Payable - Business Tax Payable.

5) Disposal of net profit and loss.

1. Net loss carried forward, borrowed: non-operating expenses - loss on disposal of non-current assets.

Credit: Disposal of fixed assets.

2. Carry-forward net income, borrowing: disposal of fixed assets.

Credit: Non-operating income - gain on disposal of non-current assets.

1) **, scrapped and damaged fixed assets transferred to the liquidation.

Borrow: Disposal of fixed assets.

The book value of the fixed asset that is transferred to disposal).

Accumulated depreciation. Depreciation accrued).

Provision for impairment of fixed assets.

Provision for impairment has been made).

Credit: Fixed Assets.

The book value of the fixed asset).

2) In the event of a clean-up fee.

Borrow: Disposal of fixed assets.

Credit: Bank deposits.

3) When calculating and paying business tax, enterprises selling houses, buildings and other immovable properties shall calculate and pay business tax according to their sales amount in accordance with the relevant provisions of the tax law.

Borrow: Disposal of fixed assets.

Credit: Tax Payable - Business Tax Payable.

4) When recovering the price, residual material value and valuation income of ** fixed assets.

Borrow: Bank deposit.

raw materials, etc. Credit: Disposal of fixed assets.

5) When compensation should be made by the insurance company or the negligent party.

Debit: Other receivables.

Credit: Disposal of fixed assets.

6) Net income after disposal of fixed assets.

Borrow: Disposal of fixed assets.

Credit: Long-term amortized expenses.

belongs to the preparatory period).

Non-operating income – net income from fixed assets.

belongs to the production and operation period).

7) Net loss after disposal of fixed assets.

Borrow: Long-term amortized expenses.

belongs to the preparatory period).

Non-operating expenses – very loss.

It is a loss caused by natural disasters and other abnormal reasons during the production and operation period) non-operating expenses - net loss of fixed assets.

It belongs to the normal processing loss during the production and operation period).

Credit: Disposal of fixed assets.

The same goes through the Fixed Assets Disposal account.

Maturity Scrapping: Borrow: Disposal of Fixed Assets.

Accumulated depreciation. Credit: Fixed Assets.

Borrow: Non-operating expenses.

Credit: Disposal of fixed assets.

Scrapped in advance: borrowed: disposal of fixed assets.

Accumulated depreciation. Credit: Fixed Assets.

Borrow: Non-operating expenses.

Credit: Disposal of fixed assets.

Accounting treatment of disposal of fixed assets: The fixed assets to be disposed of are transferred to the disposal entries as follows: debit: disposal of fixed assets, accumulated depreciation, credit: fixed assets, when disposal expenses occur: borrow: disposal of fixed assets, credit: bank deposits, taxes payable, etc.

Hello, regarding the accounting treatment of the scrapping of fixed assets, if the taxpayer has deducted the input tax under the circumstances listed in Article 10 (1) to (3) of the Regulations, the non-deductible input tax shall be calculated according to the following formula in the current month of each month: non-deductible input tax = net value of fixed capital and fixed assets Applicable tax rate The net value of fixed assets mentioned in this notice refers to the net value of fixed assets calculated by taxpayers after depreciation in accordance with the financial accounting system, for reference only.

The accounting for the retirement of fixed assets shall be carried out according to the following procedures:

1) Write off the original value and depreciation amount of scrapped fixed assets. According to the net value of fixed assets, the "Fixed Assets Disposal" account is debited; The "Accumulated Depreciation" account is debited according to the amount of depreciation that has been withdrawn; The Fixed Assets account is credited to the original value of the fixed asset.

2) Carry forward the value of residual materials and the income from the sale of goods. According to the value of the recovered residual materials and the income from the sale of goods, the accounts of "bank deposits" and "raw materials" are debited, and the accounts of "disposal of fixed assets" are credited.

3) Pay for the cleanup. The "Fixed Assets Disposal" account is debited and the "Bank Deposit" account is credited according to the disposal costs incurred.

4) Net profit or loss after carry-forward liquidation. The net income after the disposal of fixed assets shall be debited to the account of "Disposal of Fixed Assets" and credited to the account of "Income from Non-operating Income and Income from Disposal of Fixed Assets"; The net loss after the disposal of fixed assets is debited to the "Non-operating expenses and losses on fixed assets" account and credited to the "Fixed Assets Disposal" account.

Conditions for the retirement of fixed assets

1) The service life is too long, completely loses the use value, and there is no repair value.

2) The product technology is backward, the energy consumption is high, the efficiency is low, it has been eliminated and is not suitable for the development of the enterprise to continue to use, or the technical indicators do not meet the use requirements.

3) Serious damage that cannot be repaired or can be repaired, but the cumulative repair cost is close to or exceeds the market value.

4) If the main accessories are damaged and cannot be repaired, and the main body can still be used, it can be partially scrapped.

When the fixed assets are turned into liquidation, the accounting treatment is: borrow: fixed assets liquidation, accumulated depreciation, credit: fixed assets - a certain fixed asset.

When carrying forward the loss of scrapping fixed assets, the accounting treatment is: debit: profit and loss on asset disposal - profit or loss on disposal of fixed assets, and credit: disposal of fixed assets.

The accounting treatment of the scrapping of fixed assets is as follows: 1. The scrapping of fixed assets to be scrapped is included in the fixed assets disposal account: debit:

Disposal of fixed assets", "accumulated depreciation", credit: "fixed assets". 2. Calculate the expenses incurred in the clean-up process and the taxes payable

Borrow: "Disposal of fixed assets", Credit: "Tax payable - business tax payable", "Bank deposit or cash".

3. Clean up the income: borrow: "bank deposits", credit:

Fixed Asset Disposal".

The scrapping of fixed assets refers to the abandonment of fixed assets due to participation in production or some special reasons, and the loss of their use value. When the fixed assets are scrapped, the application should be submitted by the use department and the fixed assets management department, and the "fixed assets scrapping form" should be filled in according to the scrapping and liquidation object, detailing the technical status of the fixed assets and the reasons for scrapping, and the technical appraisal shall be carried out by the relevant departments, and the certificate of the fixed assets liquidation business shall be used as the enterprise to carry out the liquidation of fixed assets after the approval of the enterprise leaders or superior departments, so as to clean up. After being reviewed and approved by the relevant departments, the "fixed assets scrapping form" shall be sent to the accounting department as the basis for organizing the liquidation and accounting of fixed assets.

Criteria for applying for the scrapping of fixed assets.

1. The service life is too long, the function is lost, the use value is completely lost, or the use value cannot be used and there is no repair value;

2. The product technology is backward, the quality is poor, the energy consumption is high, the efficiency is low, it is obsolete and not suitable for continued use, or the technical indicators have not met the requirements of use;

3) Serious damage that cannot be repaired or can be repaired, but the cumulative repair cost is close to or exceeds the market value.

4) If the main accessories are damaged and cannot be repaired, and the main body can still be used, it can be partially scrapped.

5. Duty-free imported instruments and equipment shall be scrapped only after the expiration of the supervision period, the application for release of supervision and approval shall be submitted to the customs.

Fixed assets are reported for positive reimbursement, and the fixed assets can be directly cleaned and punched, and the specific accounting treatment is as follows:

1. Transfer to fixed capital liquidation, borrow: fixed assets liquidation, accumulated depreciation, credit: fixed assets, 2. Disposal income fixed asset price.

Borrow: bank deposits, credit: fixed assets liquidation, taxes payable - VAT payable (output tax), 3. The liquidation of fixed assets is transferred to the profit and loss on the disposal of Zidan Qiqi, if the "fixed assets liquidation" account is the debit balance, it is the net loss of the liquidation, and the credit is the net income paid.

Credit: Gains and losses on disposal of assets, Credit: Disposal of fixed assets.

The scrapping of fixed assets is the abandonment of fixed assets due to the loss of their use value due to participation in production or for some special reasons.

Accounting entries for the retirement of fixed assets.

1. When the fixed assets are scrapped, they will first enter the fixed assets liquidation account

Borrow: Disposal of fixed assets.

Accumulated depreciation. Credit: Fixed Assets (Original Value).

2. Clean-up costs and taxes payable

Borrow: Disposal of fixed assets.

Credit: Taxes payable.

Bank slag sail money cash in hand.

3. Clean up the income:

Borrow: Bank deposit.

Credit: Disposal of fixed assets.

4. Net loss after liquidation of fixed assets:

Borrow: Non-operating expenses – net loss on disposal of fixed assets.

Credit: Disposal of fixed assets.

5. Net income after the disposal of fixed assets:

Borrow: Disposal of fixed assets.

Credit: Non-operating income – net gain on disposal of fixed assets.

What is a fixed asset?

Fixed assets refer to non-monetary assets held by enterprises for the production of products, provision of labor services, leasing or operation and management, which have been used for more than 12 months and have reached a certain standard in value, including houses, buildings, machines, machinery, means of transportation and other equipment, appliances and tools related to production and business activities. Fixed assets are the means of labor of an enterprise, and they are also the main assets on which an enterprise relies for production and operation.

Fixed assets are generally divided into production fixed assets, non-production fixed assets, leased fixed assets, unused fixed assets, unused fixed assets, financial lease fixed assets, and donated fixed assets.

What is a tax due?

The taxes payable refer to the various taxes and fees payable by the enterprise according to the operating income and realized profits obtained in a certain period of time in the liquid calendar and in accordance with the provisions of the current tax law. The taxes payable include value-added tax, consumption tax, enterprise income tax, resource tax, land value-added tax, urban maintenance and construction tax, real estate tax, land use tax, vehicle and vessel tax, education surcharge and other taxes and fees paid by enterprises in accordance with the law, as well as individual income tax collected and paid by enterprises before being handed over to the state.