Accounting treatment for the purchase of underground parking spaces by enterprises?

Parking spaces are quite land use rights.

nature, not in physical form, but with value and use value.

assets. It should be included in intangible assets.

Borrow: Intangible assets.

Credit: Bank deposits.

Amortization should be made at the end of each month.

Borrow: Administrative expenses.

Credit: Intangible assets.

Underground parking spaces (vehicle parking spaces) are quite in the nature of land use rights, and do not have physical forms but have assets with value and use value. It can be seen that all expenses should be accrued as intangible assets.

Borrowing "intangible assets" for vehicle parking.

Credit" bank deposits or cash on hand.

The amortization of intangible assets is amortized using the straight-line method, also known as the weighted average amortization.

The cost of intangible assets shall be amortized in installments starting in the month in which it is obtained, and shall not be amortized in the month in which it is disposed of. That is, the intangible assets are increased in the current month, amortized in the current month, the intangible assets are reduced in the current month, and the intangible assets are not amortized in the current month.

The amortization period of intangible assets shall be in accordance with the term stipulated in the law and the contract, and the amortization period shall not be less than 10 years if the enterprise application does not stipulate the service life, or the intangible assets developed by itself.

Amortization entries for intangible assets.

"Amortization of tangible assets by administrative expenses" vehicle parking spaces.

Credit" intangible assets vehicle parking spaces.

Underground parking spaces generally only have the right to use and should be included in intangible assets, and the deed tax paid is included in the original value of intangible assets.

Hello, I am happy to answer for you: how to record the right to use the company's purchase of underground parking spaces, the answer is: the company purchases underground parking spaces, if the right to use the parking spaces is obtained, the cost of purchasing underground parking spaces should be included in the intangible assets account, and the accounting entries are debited:

Intangible assets, tax payable – VAT payable (input tax), credit: bank deposits. If the purchased underground parking space has ownership, the cost of the purchased underground parking space is included in the fixed assets account, and the accounting entry is debited

Fixed assets, tax payable - VAT payable (input tax), credit: bank deposits.

Hello, I am happy to answer your questions, if the additional parking space is not the company's parking space, but the company purchased the parking space, then it should be listed as a fixed asset and recorded according to its purchase value. The accounting entries are as follows: Fixed Asset Account Debit (Increase):

The amount of the purchase of additional parking spaces Bank account or accounts payable for the account of the account of the letter of the bank account (reduced): the amount paid for the additional parking space If the company rents additional parking spaces and parking spaces, they shall be included as rental expenses and charged in accordance with the rent specified in the rental contract. The accounting entries are as follows:

Lease Expense Account Debit (Increase): Rent for Additional Parking Spaces Bank Account or Accounts Payable Credit (Decrease): Payment of Rent for Additional Parking Spaces It should be noted that the above accounting entries are for reference only, and the specific accounting treatment should be determined according to the actual situation of the company and accounting standards.

It is advisable to consult a professional accountant or financial advisor for specific operations.