2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Account 75 "Settlements with founders" is used to summarize data on all types of monetary transactions carried out with company participants (JSC shareholders, members of a general partnership, cooperative, and so on). Municipal and state unitary institutions use it to reflect all types of transfer of funds between them and state and local authorities authorized to create such enterprises. This account is proposed to be applied by the developers of the new instruction to the plan. Previously, such transactions were reflected in the account. 77. Let us further consider in detail the features of this account in accounting.
Specification
The article in question may additionally open:
- subaccount 75.1 for settlements on contributions to the share (authorized) capital;
- subaccount 75.2 on transactions relating to income payments and other items.
The first sub-account is used at unitary enterprises to reflect transactions carried out with a state or municipal authority regarding property transferred to economic management / operational management. For example, this takes place during the formation of an institution, the replenishment of working capital, the withdrawal of material assets. Such enterprises are called subaccounts. 75.1 "Settlements for allocated property". Information on the article is reflected in the same way as for fixing capital contributions.
Accrual and payment of profits
Subaccount 75.2 summarizes information on transactions related to the payment of income to the founders. The accrual of income is shown in db sch. 84. Corresponds with him account 75. Postings for the accrual and payment of income of the personnel of the enterprise are compiled using the account. 70. It reflects cash transactions with employees for salaries. When income is paid 75, the account is debited. Corresponding with it are articles that record the movement of funds. If, with participation in other companies, the payment of income is carried out by services, works or goods of these enterprises, as well as securities and others, then account 75 is also debited. At the same time, it corresponds with articles reflecting the realization of the corresponding values. Subaccount 75.2 is also applied when recording operations for the distribution of income, losses and other financial results in accordance with simple partnership agreements.
Creation of AO
When forming a joint-stock company, the amount of debt for the redemption of securities is accepted on Db account. 75 in correspondence with sc. 80, reflecting the authorized capital. With the actual receipt of deposits in cash, entries are made for Kd in correspondence with articles that record the movement of finances. Atcontribution of material and other (except for monetary) funds and valuables 75 the account is credited. In the records, the accounts are credited. 08, reflecting non-current assets, account. 10 ("Materials"), sc. 15 for the acquisition and preparation of mat. values, etc. Similarly, they show settlements with founders on contributions to the capital of companies of other organizational and legal types. In this case, the recording is made over its entire value specified in the documentation. If the sale of shares is carried out at a cost higher than the nominal value, the received sum difference is transferred to Kd account. 83. Tax on income from participation in the enterprise, which are subject to withholding, are reflected in Db c. 75 and Kd. sch. 68.
Analytics
Settlements with founders are reflected for each entity. The exception is shareholders-owners of bearer securities in JSCs. Analytical accounting of transactions with participants / founders within a group of related companies, on the activities of which consolidated reporting is generated, is carried out according to account. 75 apart.
Specifics
In the characteristics of the account. 75 there is one significant clarification. It reflects transactions with participants in enterprises. One entity can act as a founder and participant. But in practice, quite often they are different persons. 75 the account in the balance sheet is characterized, on the one hand, as an item intended for the capital replenishment procedure. On the other hand, it accrues and pays profits to subjects.
Explanations
When formingenterprise, there is a need to make an entry: dB 75.1 Cd 80
Such a record in the methodological sense differs significantly from the traditional provisions. The fact is that when debiting subsch. 75.1 is formed receivables. An asset is immediately created for the amount of the participants' obligations. This case is considered the only one in accounting. As a rule, obligations that arise under the terms of the contract are not reflected. The accountant fixes only the debt that comes from the execution of the agreement. For example, the obligation arising from the supply contract is not reflected. At the same time, the debt for the already delivered batch of products is shown. The feature that is provided for 75 planners need to consider. When calculating liquidity and coverage ratios, quasi-receivables must be excluded from the amount securing obligations. 75 account arose, in fact, because there is a dogma according to which, at that moment, as soon as the enterprise is created, its authorized capital must be immediately reflected in the accounts. Participants can contribute different assets to it. If they are paid in kind, they must undergo an independent assessment procedure. When deposits are received, an entry is made:
- Debit items on the reflection of cash, inventories, etc.
- Subacc. credit 75.1
Sales of shares
At the expense of it, the joint-stock company replenishes the authorized capital. When selling securities at a price exceedingface value, this difference is credited to the account. 83. This method is proposed by the developers of recommendations to the Chart of Accounts. Theoretically, it is allowed to reflect the operation on dB sch. 98.1. This is explained by the fact that, in accordance with the current accounting principles, the amount of the authorized capital cannot be changed. In this regard, it was proposed to introduce a regulatory account. 83. But overpaid funds should be correlated with future expenses only if they become real income for the enterprise.
Features of profit payouts
Subaccount 75.2 is used for settlements with founders who are not on the staff of the company. It was said above that if the participant is an employee of the company, then monetary transactions with him are reflected in the account. 70. When the payment of income is announced, an entry is made: Db 84 Cd 75.2.
From the amount accrued by the accountant, taxes are withheld: dB 75.2 Kd 68.
Income from participation in companies that an individual receives is taxed at a rate of 30%. In this case, the amount is reduced by the amount of the deduction from the profit, which was directed to the distribution of proceeds among the participants.
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