During the epidemic mask donation accounting entries, how to do accounting?
Case description:
1, when enterprise A learned of the Wuhan area due to the serious epidemic caused by the scarcity of masks, decided to donate to the Wuhan area in the name of the enterprise worth more than 200,000,000 yuan of masks materials. May I ask, how should enterprise A make accounting entries, how to do the accounts?
Borrow: Non-operating Expenses - Donation Expenses 226000
Credit: Inventory Goods - Masks 200000
Taxes Payable -
Borrow: Inventory of goods and other subjects
Borrow: Taxes payable - VAT payable (input tax)
Credit: Bank deposits
Borrow: Non-operating Expenses - Donation Expenses
Credit: Inventory of goods and other subjects
Taxes payable - VAT payable (output tax)
3. In order to prevent and control the new pneumonia epidemic, Company C purchases a batch of masks and donates them to the relevant organizations and hospitals in Wuhan. In addition, C company also donated 20000 yuan in cash. How should the finance do the accounting treatment?
Borrow: Non-operating Expenses--Donation Expenses
Credit: Bank Deposit/Cash or
Inventory Goods (In-kind Donation)
Tax Payable--VAT Payable ( "output tax" or "input tax transfer") (donation in kind)
Note: Assuming that an enterprise donates self-produced goods, the corresponding value-added tax will be paid as if the goods were sold. Assuming that the purchased goods are donated, it is necessary to calculate the output tax at the same time as sales, and the input tax at the time of purchase is deductible. Or carry out input tax transfer processing.
Accounting entries and tax treatment involved in the purchase of masks during the epidemic
Case description: During the epidemic, the company urgently purchased a batch of masks for the prevention of a new type of pneumonia, which will be issued to the employees and required to wear at work. The amount of VAT special invoice is 10000 RMB and the VAT amount is 1300 eyes. May I ask how to do the accounting entry for the purchase of masks during the epidemic and what tax treatment is involved?
Accounting entries:
Borrow: Administrative Expenses-Labor Protection Expenses 10000
Taxes Payable-VAT Payable-Input Tax Amount 1300
Credit: Bank Deposit 11300
Tax Treatments:
VAT: According to the latest Q&A of the Epidemic Prevention and Control Tax Policy, it can be seen that during the epidemic period, the enterprise purchased masks are labor protection supplies, and the VAT invoices they obtained are deductible for input tax.
Personal income tax: According to the relevant policy, during the epidemic period, the masks and other protective supplies issued by the organization to individuals are exempted from personal income tax. (Refer to Cai Shui Announcement No. 10)
Enterprise income tax: According to the latest epidemic prevention and control tax policy Q&A, during the epidemic, the company issued to employees to buy masks related costs, enterprise income tax is allowed to pre-tax deduction.
Knowledge Expansion: Prevention of new coronavirus masks tax treatment, the company's accountant how to do the accounts
.