Reflection of profit in the balance sheet is the final stage of summing up the financial result of the enterprise. This takes into account all the amounts of expenses and income of the company recorded during the reporting period. The result is reflected in account 99 "Profit and loss".
Instructions
Step 1
Determine the financial result from the main activity of the enterprise. For this, account 90.5 "Profit from sales" is used. In this case, the amount of revenue is reflected on the credit of subaccount 90.1 "Revenue", and the cost price and selling expenses on the debit of subaccounts 90.2, 90.3 and 90.4.
Step 2
Calculate the revenues and costs of the enterprise that do not meet the definition of the main activity. Reflect these indicators on the sub-accounts of account 91 "Other income and expenses".
Step 3
Reform the balance. Close all sub-accounts at the end of the year with internal records. For this, the debit turnover of subaccount 90.1 and the credit turnover of subaccounts 90.2, 90.3, 90.4 and 90.5 must be debited to account 90.9. Open other income in debit, and other expenses in credit and write off to account 91.9 "Balance".
Step 4
Reflect the company's profit in the balance sheet by opening a debit of subaccount 90.9 and subaccount 91.9 in correspondence with the credits of account 99 "Profit and Loss". If the financial result showed a negative value, then it must be reflected on the debit of account 99.
Step 5
Reflect the amount of net profit of account 99 in correspondence with the credit of account 84 "Retained earnings". After that, make a decision on its distribution, which must be confirmed by the order of the head or the minutes of the meeting of founders. If it was decided to send the profit to the payment of dividends, then it is reflected in the debit of account 84 in correspondence with accounts 70 "Settlements with personnel" or 75.2 "Settlements for the payment of income". To create a reserve capital, a loan is opened on account 82 "Reserve capital" and a debit on account 84.
Step 6
Next, you need to determine the purpose of the reserve and use it to cover future losses, buy back your own shares or redeem bonds. If it is necessary to bring the authorized capital to the value of net assets, then the profit is transferred to the debit of account 80.
