Accounting entries for the donation of medical equipment
1, the purchase of medical equipment accounting entries:
Borrow: inventory (or low value consumables, fixed assets, etc.)
Taxes payable - VAT payable (input tax)
Loan: bank deposits
Bank deposits are currency deposited by enterprises with banks and other financial institutions, and cash is currency held in stock for daily incidental payments. Bank deposit is an asset class account, accounting for the existence of the enterprise's bank clearing account. The closing balance generally appears on the debit side, indicating an increase in the company's bank deposits.
2, foreign gratuitous donations, according to the provisions of the value-added tax law should be treated as sales, according to the sales of sales to calculate sales tax.
Borrow: non-operating expenditure - donation expenditure
Credit: inventory goods (fixed assets)
Taxes payable - VAT payable (output tax)
What does non-operating expenditure include?
Non-operating expenses belong to the profit and loss category of accounting. Non-operating expenses are expenses incurred by an enterprise that are not directly related to the enterprise's daily production and operation activities. Increases are debited and decreases are credited. At the end of the period, the balance of the account should be transferred to the "profit for the year" account, after the carry-over of the account has no balance.
Non-operating expenditures include: fixed asset losses, net loss on disposal of fixed assets, fines, donations, extraordinary losses, asset valuation impairment, debt restructuring losses.
What is tax payable?
Taxes payable is a kind of accounts payable, which mainly includes VAT, urban maintenance and construction tax and other taxes that should be paid according to the tax law. The credit side of this section registers all kinds of taxes and fees payable, the debit side registers all kinds of taxes and fees that have been paid, and the credit balance at the end of the period reflects the taxes and fees that have not yet been paid, and the debit balance reflects the overpayment or the taxes and fees that have not yet been deducted.