Accounting financial accounting. Accounting for retained earnings (uncovered loss) (the most important)

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Accounting financial accounting. Accounting for retained earnings (uncovered loss) (the most important)

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78. ACCOUNTING FOR RETAINED EARNINGS (UNCOVERED LOSS)

To account for the presence and movement retained earnings (uncovered loss) an active-passive account 84 "Retained earnings (uncovered loss)" is provided. Retained earnings of the reporting year is the part of net profit that was not distributed by the organization in the reporting year.

The net profit identified on account 99 is written off at the end of the reporting year (in December) to the credit of account 84: Dt 99 “Profits and losses”, Kt 84 “Retained earnings (uncovered loss)”. The debit of account 84 reflects the areas of use of retained earnings of the reporting year: Dt 84 "Retained earnings (uncovered loss)", Dt 70 "Settlements with personnel for wages", 75 "Settlements with founders", subaccount 75-2 " Calculations for payment of income"

▪ for the payment of dividends; Dt 84 "Retained earnings (uncovered loss)", Kt 80 "Authorized capital", 82 "Reserve capital"

▪ to increase authorized and reserve capital.

The balance of retained earnings is carried over to the next year.

The amount of the net loss of the reporting year in December is written off by the final turnovers from the credit of account 99 "Profits and losses" to the debit of account 84 "Retained earnings (uncovered loss)".

Write-off from the balance sheet reporting year losses is carried out when: bringing the authorized capital to the size of the net assets of the organization: D-t 80 "Authorized capital",

Kt 84 "Retained earnings (uncovered loss)";

▪ direction to repay the loss at the expense of reserve capital: D-t 82 “Reserve capital”, K-t 84 “Retained earnings (uncovered loss)”;

▪ repayment of the loss of a simple partnership at the expense of targeted contributions of its participants: D-t 75 “Settlements with founders”, K-t 84 “Retained earnings (uncovered loss)”.

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