The balance sheet is the main form of reporting that characterizes the financial condition of the enterprise. Any property, investments, debts and losses can be reflected in the balance sheet and converted into cash. If, at the end of the reporting period, the balance turned out to be unprofitable, then it is necessary to think about the sources of repayment in advance, then the report will have a presentable appearance.
It is necessary
Balance sheet and losses
Instructions
Step 1
According to the Directive, all business entities must publish their balance sheet so that third parties can receive reliable information about the state of the organization. Generalized information about the movement and the availability of cash retained earnings and uncovered loss is reflected in 84 account of the balance sheet.
Step 2
The loss is covered by the reserve fund, profit of previous years, earmarked contributions, additional capital and an increase in the authorized capital to the amount of net assets. The loss remains uncovered only if the available sources for repayment are not enough. If the organization is successful, part of the profit remains in the reserve in case of future losses: Debit 84, Credit 82.
Step 3
Account 99 "Profit and loss" displays a debit or credit balance, which is transferred to the "Uncovered losses" account before approval. Profit is accounted for as follows: Debit 99, Credit 84. In case of loss, a reverse posting is made: Debit 84, Credit 99. After the distribution of profits is approved in the next reporting period at the meeting of the owners of the organization, a reformation is carried out, the purpose of which is to write off the account 84 target amounts. In this case, crediting is made to the account "Calculations for the payment of income": Debit 84, Credit 75.
Step 4
When the profit that was once reserved is sent to cover the loss, the posting is made: Debit 82, Credit 84. If retained earnings from previous periods are sent: Debit 84, Credit 84. To bring the authorized capital of the organization to the amount of net assets: Debit 80, Credit 84. The owners of the organization can pay off the loss at their own expense: Debit 75, Credit 84. Any expenses of the organization should be written off to account 80 or included in the cost of assets.
Step 5
If an unprofitable organization receives income in the next reporting period, then until all losses for previous reporting periods are paid, dividends cannot be paid.
