Accounting. Repair of fixed assets (most important)

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Accounting. Repair of fixed assets (most important)

Lecture notes, cheat sheets

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51. Repair of fixed assets

Restoration of an item of fixed assets can be carried out through repair, modernization и reconstruction.

Repairs can be carried out economic or contractor way.

Distinguish the following methods of repairing fixed assets.

1. The costs incurred during the repair of a fixed asset object are reflected on the basis of the relevant primary accounting documents for accounting for the operations of release (expenditure) of material assets, the calculation of wages, debts to suppliers for the repair work performed and other expenses.

Debit of account 20 "Main production" (23 "Auxiliary production", 25 "General production expenses", 26 "General expenses")

Account credit 10 "Materials", (70 "Settlements with personnel for wages", 69 "Settlements for social insurance and security", 23 "Auxiliary production", 76 "Settlements with various debtors and creditors") - the actual costs of conducting repair of fixed assets.

2. In order to evenly include forthcoming expenses for the repair of fixed assets in production costs (sales expenses) of the reporting period, an organization may create a reserve for expenses for the repair of fixed assets (including leased ones).

To make a decision on the formation of a reserve of expenses for the repair of fixed assets, documents are used confirming the correctness of the determination of monthly deductions (defective statements, estimates for repairs, standards and data on the timing of repairs, the final calculation of deductions to the reserve of expenses for the repair of fixed assets).

The reserved amounts in order to evenly include expenses in the costs of production (sales) are recorded on passive account 96 "Reserves for future expenses". The credit of the account reflects the formation of a reserve, the debit - the use of the reserve.

1. Formation of a reserve:

Debit of account 20 "Main production" (23 "Auxiliary production", 25 "General production expenses", 26 "General expenses")

Credit of account 96 "Reserves for future expenses".

2. Reserve use:

Debit of account 96 "Reserves for future expenses" Credit of account 23 "Auxiliary production" 10 "Materials", 70 "Labor costs", 69 "Calculations for social insurance and security", 76 "Settlements with different debtors and creditors").

3. The amount of the unused reserve is reflected:

Debit of account 96 "Reserves for future expenses" Credit of account 91 "Other income and expenses", sub-account "Other income".

If the organization carries out the repair of fixed assets unevenly, then it is allowed to write off the actual costs to account 97 "Deferred expenses".

1. The actual costs of repairs in the reporting period are reflected:

Debit of account 97 "Deferred expenses" Credit of account 23 "Auxiliary production" (10 "Materials", 70 "Settlements with personnel for wages", 69 "Calculations for social insurance and security", 76 "Settlements with various debtors and creditors" ).

2. Write-off of expenses during subsequent periods:

Debit of account 20 "Main production" (23 "Auxiliary production", 25 "General production expenses", 26 "General expenses") Credit 97 "Deferred expenses".

Author: Kabkova E.N.

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