Input tax = 34000+20000 *13%+1000 * 7%-20000 *17% = 33270.
Sales of fixed assets with input deducted shall be taxed at the applicable tax rate and included in the output tax, while sales of fixed assets without input deducted shall be halved at the rate of 4% and directly included in the unpaid value-added tax.
Therefore, the VAT payable for the sale of fixed assets in 2003 =20800/( 1+4%)*2%=400 yuan.
Therefore, the value-added tax payable this month =39440-33270+400=6570 yuan.
The entries are as follows,
1, borrowed: 200,000 yuan of raw materials
Taxes payable-VAT payable (input tax) 34,000.
Loan: 234,000 yuan in bank deposit.
2. Debit: Bank deposit 35 100 (in red)
Loan: income from main business is 30,000 yuan (in red ink)
Taxes payable-VAT payable (output tax) 5 100 (in red)
3. Debit: Accounts receivable 128700
Loan: main business income 1 10000
Taxes payable-VAT payable (output tax) 18700
4. Debit: Other payables 2340
Credit: other business income 2000
Taxes payable-VAT payable (output tax) 340
5. Debit: Payables-welfare expenses 128700
Loan: main business income 1 10000
Taxes payable-VAT payable (output tax) 18700
Debit: main business cost 100000
Loan: goods in stock 100000
6. Debit: 20800 in the bank.
Loan: Fixed assets liquidation 20400
Taxes payable-unpaid VAT 400
Debit: Bank deposit 46800
Loan: fixed assets liquidation 40,000 yuan
Taxes payable-VAT payable (output tax) 6800
7. Borrow: raw materials 18330
Taxes payable-VAT payable (input tax) 2670
Loan: Bank deposit 2 1000
8. Borrow: Construction in progress 23400
Credit: Taxes payable-VAT payable (input tax transferred out) 3400
Raw materials 20000
9. Debit: Taxes payable-VAT paid is 50,000.
Loan: 50,000 yuan in bank deposit.