The insurance premium needs to be included in the corresponding accounting subjects according to different situations. What are the accounting subjects of equipment insurance premium? What is the insurance cost of purchased equipment included in?
(1) If the insurance expense of the purchased equipment belongs to property insurance, it shall be included in the management expense account, and the entry is as follows:
Debit: administrative expenses - insurance premium
Credit: bank deposit / cash
(2) If the insurance premium of the purchased equipment is purchased together with the equipment, it will be included in the equipment cost. The entry is as follows:
Debit: taxes payable for fixed assets (including insurance premium) - VAT payable - input tax
Credit: bank deposit / cash
Development materials:
Accounting subject is the category of accounting for the specific content of accounting element object. The specific contents of accounting objects are different, and the management requirements are also different. In order to comprehensively, systematically and categorically calculate and supervise the occurrence of various economic businesses, as well as the increase and decrease of various assets, liabilities, owners' equity and various profits and losses, it is necessary to set up accounting subjects according to various accounting objects. Setting up accounting subjects is a scientific classification of the specific contents of accounting objects and a method of classified accounting and supervision.
In order to continuously, systematically and comprehensively calculate and supervise the increase and decrease of various accounting elements caused by economic activities, it is necessary to scientifically classify the specific contents of accounting elements according to their different characteristics and economic management requirements, determine the name of classified accounting items in advance, and specify the accounting contents. This kind of accounting elements of the specific content of the classification of accounting items, known as accounting subjects.