It seems to be a relatively simple fixed asset depreciation accounting treatment, but some accountants are confused and do not understand what is wrong. If you can't correctly distinguish between accounting depreciation and depreciation under the tax law, you may cause trouble for your accounting work. Xiaobian selected a equipment depreciation related Q&A case of Lin Chunshan accountant from the "one-to-one list" column of the shared accountant to share with everyone for reference and study.
ask:
Our company purchased a set of production equipment for 3 million yuan in February, paid a commission of 250,000 yuan, and has been included in the sales cost at one time. The production equipment has been put into use in the same month, the net residual value rate is expected to be 5%, the expected service life is 3 years, and depreciation is calculated according to the average age method. How to record and depreciate this production equipment in taxation and accounting? Is there a difference in taxes? How do you increase it?
answer:
Intermediate accountant Lin Chunshan replied:
A: According to the Regulations on the Implementation of the Enterprise Income Tax Law of the People's Republic of China (Decree No. 512 of the State Council), the depreciation period of production equipment is 10 years, and the depreciation of electronic equipment is 3 years. From the problem, it is speculated that this production equipment is an electronic device and can be depreciated according to 3 years. For ease of understanding, the simple assumption that VAT is not taken into account, and the accounting entries are as follows:
Debit: Fixed assets 3 million
Selling expenses 250,000
Credit: Bank deposits 3.25 million
Accounting monthly depreciation: 3 × (1-5%)/36= 79,200 yuan
Monthly depreciation of the tax law: 3 × (1-5%)/60 = 47,500 yuan
Depreciation for the fiscal year = 7.92× 12 = 950,400 yuan
The tax law stipulates that annual depreciation = 4.75 × 12 = 570,000 yuan
Accounting for annual depreciation:
Debit: Manufacturing expenses - Depreciation expenses 950,400
Credit: Accumulated depreciation 950,400
The tax law provides for the provision of annual depreciation:
Debit: Manufacturing expenses - Depreciation expenses 570,000
Credit: Accumulated depreciation 570,000
Accounting treatment and tax law provisions are subject to tax adjustments, and deductible temporary differences resulting from depreciation are recognized as deferred tax assets. Tax income increase: (95.04-57) ×25% = 95,100 yuan.
Debit: Deferred tax assets 9.51 million
Credit: Income tax expense 95,100
Editor: Pay attention to the difference between accounting depreciation and depreciation stipulated in the tax law, which is where Cainiao accounting is prone to misunderstandings.
The above reply of Lin Chunshan accountant does not represent the views of the platform.
Original: Shared accountant, focusing on consulting and answering financial and tax questions.