For the sale of fixed assets purchased after 2009, a special invoice of 17% will be issued. The accounting treatment is as follows.

Before 2009

If the selling price is not greater than the original value, a VAT invoice with a general rate of 0 will be issued.

If the selling price is greater than the original value, an ordinary invoice of 4% value-added tax will be issued, and the value-added tax will be levied by half.

Before 2009

Accounting treatment price is not higher than the original value of fixed assets.

Cancellation of fixed assets account

Borrow; Liquidation of fixed assets

accumulated depreciation

Loans: fixed assets

Invoice to determine income

Debit: Other receivables.

Loan: liquidation of fixed assets

Carry forward the net gain or loss from liquidation of fixed assets.

This is net income.

Borrow; Liquidation of fixed assets

Loan: non-operating income

It is a net loss.

Borrow; Non-operational expenditure

Loans; Liquidation of fixed assets

After carry-over, the liquidation balance of fixed assets should be 0.

The price of accounting treatment is higher than the original value of fixed assets

Cancellation of fixed assets account

Borrow; Liquidation of fixed assets

accumulated depreciation

Loans: fixed assets

Invoice to determine income

Debit: Other receivables.

Loan: liquidation of fixed assets

Withdraw tax

Debit: fixed assets settlement (tax amount /2)

Loans; Taxes payable-VAT payable (tax amount /2)

Carry forward the net gain or loss from liquidation of fixed assets.

This is net income.

Borrow; Liquidation of fixed assets X+ (tax amount /2)

Credit: non-operating income X+ (tax amount /2)

It is a net loss.

Borrow; Non-operating expenses X+ (tax amount /2)

Loans; Liquidation of fixed assets X+ (tax amount /2)

After carry-over, the liquidation balance of fixed assets should be 0.

This is a net loss. It's best to go to the tax bureau for filing.

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