Accounting. On-farm calculations (the most important)

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Accounting. On-farm calculations (the most important)

Lecture notes, cheat sheets

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41. On-farm settlements

Account 79 "Intra-economic settlements" is intended to summarize information about all types of settlements with branches, representative offices, departments and other separate divisions of the organization allocated to separate balance sheets (intra-balance sheet settlements), in particular settlements for allocated property, for the mutual release of material assets, for the sale of products, works, services, on the transfer of expenses for general management activities, on remuneration of employees of departments, etc.

To account 79 "Intra-economic settlements" sub-accounts can be opened:

79-1 "Settlements for allocated property";

79-2 "Settlements on current operations";

79-3 "Settlements under the contract of trust management of property" and more

On subaccount 79-1 "Settlements for allocated property" the state of settlements with branches, representative offices, departments and other separate divisions of the organization, allocated to separate balance sheets, is taken into account for the non-current and current assets transferred to them.

The property allocated to the specified subdivisions is written off by the organization from account 01 "Fixed assets" and others to the debit of account 79 "Intra-economic settlements".

The property allocated by the organization to the specified divisions is taken into account by these divisions from the credit of account 79 "Intra-economic settlements" to the debit of account 01 "Fixed assets", etc.

On sub-account 79-2 "Settlements on current operations" the state of all other settlements of the organization with branches, representative offices, departments and other separate divisions allocated to separate balance sheets is taken into account.

On sub-account 79-3 "Settlements under the contract of trust management of property" the state of settlements related to the execution of agreements on trust management of property is taken into account. This sub-account is used to record settlements with the founder of the management, the trustee, as well as settlements on property transferred to trust management.

1. The founder’s accounting reflects the write-off of property transferred to trust management:

Debit account 79-3 "Settlements under the contract of trust management of property"

Credit of account 01 "Fixed assets", 04 "Intangible assets", 58 "Financial investments".

2. The amount of accrued depreciation was written off:

Debit account 02 "Depreciation of fixed assets", 05 "Depreciation of intangible assets"

Credit of account 79-3 "Settlements under the contract of trust management of property".

The property accepted by the trustee on a separate balance sheet is reflected:

Debit of account 01 "Fixed assets", 04 "Intangible assets", 58 "Financial investments"

Credit of account 79-3 "Settlements under the contract of trust management of property".

In this case, the amount of accrued depreciation on the accepted property is reflected. The account records:

Debit account 79-3 "Settlements under the contract of trust management of property"

Credit of account 02 "Depreciation of fixed assets", 05 "Depreciation of intangible assets".

Analytical accounting on account 79 "Intra-economic settlements" is conducted for each branch, representative office, branch or other separate division of the organization allocated to a separate balance sheet, and settlements under property trust management agreements - for each agreement.

Author: Kabkova E.N.

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