1.20X 1 in March, I bought a set of equipment that didn't need to be installed. The original book price of the transfer unit is 90,000, with a discount of 20,000. The price is determined by both parties through consultation. Besides paying the bank deposit, the factory also paid 80,000 yuan, including 300 yuan for packing and 700 yuan for transportation. After investigation, the factory recorded the following accounting entries.
A. Debit: fixed assets of 90,000 yuan.
Loan: paid-in capital is 70,000 yuan.
Accumulated depreciation of ￡ 20,000
B. Debit: the surplus reserve is 80,000 yuan.
Loan: 80,000 yuan in bank deposit.
C. Debit: management fee 1 0,000.
Loan: bank deposit 1 000.
2. When checking the houses and buildings of this factory, it is found that the two-story office recorded on the fixed assets is already a three-story building, which was expanded by the rural infrastructure team entrusted by the factory using the materials of this factory. * * * Expenditure is 60,000 yuan (including 40,000 yuan for materials), which will be amortized in two years, with 20x/kloc-0 completed in August and September-June.
3.20 x 65438+3 motor was purchased in August, and the price was 8580 yuan (including the paid value-added tax). Will it be included immediately? Prepaid fee? Account, and have all spread into the production cost of the year, after checking in the production workshop, and refer to the original documents, confirm that the purchased goods are indeed in use fixed assets.
[requirement]
1. According to the above information, analyze and point out the nature of the identified problems.
2. According to the audit results, prepare adjustment entries respectively.
answer
1. Enterprises have the following problems in equipment purchase, price payment and related expenses:
(1) inflated paid-in capital and artificially reduced surplus reserve.
(2) Failing to truthfully reflect the value of fixed assets and accumulated depreciation, inflating expenses and inflating profits of the current year is a violation of the accounting standards for business enterprises.
Adjustment entries are as follows:
(1) Debit: paid-in capital is 70,000 yuan.
Accumulated depreciation 10000
Loan: the surplus reserve is 80,000 yuan.
(2) Debit: fixed assets 1000.
Loan: management fee 1000.
And make up the depreciation that should be extracted from 20X 1.
2. The reconstruction and expansion expenses should be included in the value of fixed assets, and the factory should be included in the prepaid expenses, which confuses the boundary between revenue expenditure and capital expenditure, inflated the expenses and underestimated the value of fixed assets.
Adjustment entries are as follows:
Borrow: fixed assets of 6000 yuan.
Loan: Prepaid fee is 50,000 yuan.
Finished product 10000
And make up the depreciation that should be extracted from 20X 1.
3. The purchase of three motors, valued at 8580 yuan, has proved to be a fixed asset, and the enterprise has included it in the prepaid expenses, which confuses the boundary between capital expenditure and revenue expenditure and will lead to the underestimation of the asset value. Adjustment entries should be prepared as follows:
Debit: fixed assets 8 580
Credit: finished goods 8 580
And make up the depreciation that should be extracted from 20X 1.