Contents of this article
- 1. How to account for the second-hand car sales of transportation companies
- 2. How to record the used cars purchased by the company?
- 3. Used car company financial accounting form
- 4. How does a used car trading company prepare accounts and file taxes?
How to do accounting for transportation company’s used car sales
1. When purchasing a second-hand car:
Debit: Fixed assets
Taxes payable - value-added tax payable (input tax)
Credit: Bank deposits
When accruing depreciation:
Debit: Management expenses, etc. (included into corresponding accounts according to the department to which fixed assets belong)
Credit: Accumulated depreciation
2. When selling a second-hand car:
Transfer to fixed assets for liquidation:
Debit: Fixed assets Liquidation
Accumulated depreciation
Provision for impairment of fixed assets
Credit: fixed assets
When liquidation expenses occur:
Debit: Liquidation of fixed assets
Tax payable - value-added tax payable (Input tax)
Credit: bank deposit
When receiving income from selling second-hand cars:
Debit: bank deposit
Credit: fixed asset liquidation
Tax payable— - Value-added tax payable (output tax)
Net profit and loss from liquidation:
Realized net income:
Debit: Fixed asset liquidation
Credit: Asset disposal profit and loss
Realized net loss:
Debit: Profit and loss from asset disposal
Credit: Liquidation of fixed assets
How to record second-hand cars purchased by the company
The purchase of second-hand cars is calculated as fixed assets in accounting.
Borrow: Fixed assets 110,000
Loan: bank deposit 110,000
According to the "Interim Regulations of the People's Republic of China on Vehicle Purchase Tax" (Order No. 294 of the State Council of the People's Republic of China): "Article 8 Vehicle purchase tax shall be collected once ”
When purchasing a second-hand car, you need to go through the transfer procedures in accordance with legal procedures, and you need to ask the other party for a vehicle purchase tax payment certificate.
Expansion information:
According to Article 15 of the "Interim Regulations of the People's Republic of China on Vehicle Purchase Tax" If a tax-exempt or tax-reduced vehicle no longer falls within the scope of tax exemption or tax reduction due to transfer, change of use, etc., the change must be made before going through the vehicle transfer procedures or Vehicle purchase tax must be paid before vehicle registration procedures.
Baidu Encyclopedia Interim Regulations of the People's Republic of China on Vehicle Purchase Tax
16 Share Report
Used car company financial accounting form
1. How to handle the accounting when purchasing a vehicle from others
Borrow: Inventory goods - used cars
Taxes payable - VAT payable (input tax)
(Special VAT invoices cannot be obtained Do not make this entry)
Credit: Cash on hand
etc.
2. What to do with the received car after selling it
Debit: Cash on hand
etc.
Credit: Main business Business income
Taxes payable—VAT payable (output tax)
At the same time
Debit: Main business costs
Debit: Inventory goods—used cars
3. For acquisitions When a vehicle is repaired and then sold, how to deal with the maintenance costs
Debit: Inventory goods—used cars
Credit: Raw materials
/
Employee compensation payable
/
Accumulated depreciation
etc.
4. How to carry forward costs and income (carry forward at the end of the period)
Debit: Profit for the year
Credit: Main business costs
Administrative expenses
Business taxes and surcharges
Borrow: Main business income
Credit: Profit for the year
VAT carryover
1) Input tax carryover:
Debit: Taxes payable - VAT payable (transferred but not paid Value-added tax)
Credit: Tax payable - Value-added tax payable (input tax)
2) Output tax carried forward:
Debit: Taxes payable—VAT payable (output tax)
Credit: Taxes payable—VAT payable (unpaid VAT transferred out)
3) Carry forward the VAT payable (That is, the difference between import and sales):
Debit: Taxes payable - VAT payable (transfer unpaid VAT)
Credit: Taxes payable - VAT payable - VAT unpaid
How does a used car trading company prepare accounts and file taxes?
Used car trading companies can use financial software on the market to keep accounts. Such as UF, Kingdee, etc. The purchase of second-hand cars is included in the company's inventory, and is transferred to the main business costs after sales.
The above is all about the financial accounting of used car companies, how to do accounting for used car sales of transportation companies, and related content of used car companies. I hope it can help you.