(two) due to the increase in income tax expenses in the previous year's profit and loss adjustment, debit this account and credit "tax payable-income tax payable" and other subjects; The income tax expense reduced due to the previous year's profit and loss adjustment shall be made the opposite accounting entry.
(three) after the above adjustments, the balance of undergraduate projects should be transferred to the "profit distribution-undistributed profits" subject. If the account is a credit balance, debit the account and credit the account of "profit distribution-undistributed profit"; For example, make an opposite accounting entry for the debit balance.
The accounting entries of profit and loss adjustment in previous years are as follows:
Debit: adjustment of profit and loss in previous years
Loan: tax payable-income tax payable
Borrow: tax payable-income tax payable
Loan: bank deposit
Debit: profit this year
Credit: adjustment of profit and loss in previous years
Borrow: profit distribution-undistributed profit?
Loan: profit this year
Extended data:
"This year's profit" is the owner's equity account, accounting for the profits realized by the enterprise in the current period. After the profit and loss adjustment of last year is included, the current profit will be increased or decreased accordingly, and the calculation of taxable income will be affected. In the first case, the enterprise directly included the profits and losses that have been adjusted for tax payment into the account, which will inevitably lead to repeated income tax collection; In the second case, the enterprise directly included the profit and loss without tax adjustment in the account, which would lead to the omission of income tax.
When an enterprise adjusts the profit and loss of previous years that are not matters after the balance sheet date, it shall be recorded in the account of "adjustment of profit and loss of previous years". If no tax adjustment is made while adjusting the profit and loss, the balance of the "previous year's profit and loss adjustment" account will be transferred to the "current year's profit" account, and the final and current profits will be taxed together;
If the tax adjustment is made at the same time as the profit and loss adjustment, the balance of the "previous year's profit and loss adjustment" account will be carried forward to the "profit distribution-undistributed profit" account to avoid repeated tax payment.
Correction method of the case. Cases should first use the scarlet letter to write off the original accounts ①, ③ and ④, and then carry out accounting treatment according to the above correct methods; In case 2, the credit amount of the "profit distribution-undistributed profit" account can be directly transferred to the "profit of this year" account.
Baidu Encyclopedia-Adjustment of profit and loss in previous years