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24 years of elementary accounting learning dry goods catalog:Elementary Accounting PracticeChapter 3: Assets (1)!
1. Cash inventory
2. Other monetary funds
Funds in other currenciesIt refers to various monetary funds other than cash in hand and bank deposits;
Mainly include:Bank draft deposits, cashier's check deposits, credit card deposits, letter of credit margin deposits, investment deposits and foreign deposits, etc.
3. Tradable financial assets
1.Accounting processing at the time of acquisition
Borrow: Trading Financial Assets - Cost [Fair Value] Dividends Receivable [Cash Dividends Declared but Not Paid at the Time of Acquisition].
Interest receivable [interest on bonds that have reached the interest payment period at the time of acquisition but have not yet been received].
Credit: Other monetary funds - deposited investment funds and other [price paid].
Debit: Investment income [transaction costs] tax payable - VAT payable (input tax).
Credit: Other monetary funds - deposited investment funds, etc. [transaction costs + input tax].
2.Accounting treatment during the holding period
(1) When the maturity of cash dividends or bond interest is declared:
Borrow: Dividends Receivable Interest Receivable Credit: Investment Income.
(2) When cash dividends or bond interest are received:
Borrow: Other Monetary Funds - Loans Deposited for Investments, etc.: Dividends Receivable Interest Receivable.
(3) Changes in the fair value of trading financial assets at the balance sheet date
Fair Value Increase (Appreciation):
Borrow: Trading Financial Assets - Fair Value Change Credit: Fair Value Change Gain or Loss.
Decrease in fair value (depreciation):
Loan: Fair Value Change Gain or Loss Credit: Trading Financial Assets - Change in Fair Value.
3.*Accounting processing
Borrow: Other Monetary Funds - Deposited Investment Funds and Other [Actual Amount Received] Credit: Transactional Financial Assets - Cost.
Change in fair value [or debit] Investment income [difference, or debit].
4.VAT is payable on the transfer of financial products
At the end of the month of the month of the transfer, when the transfer proceeds are generated:
Borrow: Investment Income and Other Credit: Tax Payable - VAT Payable on Transfer of Financial Products.
At the end of the month of the month of the transfer, when the transfer loss is incurred (which can be carried forward to the next month), the reverse entry is made.
Borrow: Tax Payable - VAT Payable on Transfer of Financial Products Credit: Investment Income, etc.
At the end of the year, if there is a debit balance in the account of "Tax Payable - VAT Payable on Transfer of Financial Instruments", it means that the loss on the transfer of financial instruments in the current year cannot be compensated and cannot be transferred to the next year to continue to offset the gain on the transfer of financial assets.
4. Accounting treatment of bad debt provisions
1.When an enterprise makes provision for bad debts, it shall write down the amount of receivables according to the following:
Debit: Credit impairment loss.
Credit: provision for bad debts.
2.When writing off the provision for bad debts that are overcharged:
Debit: Provision for bad debts.
Credit: Credit impairment loss.
3.Unrecoverable accounts receivable are written off as bad debts Actual bad debt losses:
Debit: Provision for bad debts.
Credit: accounts receivable, other receivables, etc.
4.Accounts receivable that have been recognized and resold are later recovered
Debit: accounts receivable, other receivables, etc.
Credit: provision for bad debts.
At the same time, borrow: bank deposits.
Credit: accounts receivable, other receivables, etc. Multiple choice questions [2 marks].
[Multiple choice].Company A sold all the trading financial assets held by it at a price of 30 million yuan; **The carrying amount of the financial asset was $27 million (including $25 million in cost and $2 million in fair value change). Assuming that the relevant taxes and other factors are not considered, the investment income that should be recognized by Company A for the trading financial assets is ( ) million yuan.
a.300b.-300
c.500d.-500
Answer: a
Analysis:Investment income recognized at disposal = disposal price - book value at disposal = 3000-2700 = 300 (10,000 yuan).
The entries are: borrow: other monetary funds, etc. 3000
Credit: Trading Financial Assets - Cost 2500
Change in fair value 200
Investment income 300 [difference].