Debit: income tax

Loan: Taxes payable-Income tax payable

(This entry is an accounting entry under the tax payable method and omitted under the tax impact accounting method.)

2. Carry-forward income tax expenses

Debit: this year's profit

Credit: income tax

3. Withdraw the statutory surplus reserve fund (profit * 10% after making up the losses of previous years in this year)

Debit: profit distribution-withdrawal of statutory surplus reserve

Loan: surplus reserve-statutory surplus reserve

4. Withdraw the statutory public welfare fund (profit of this year after making up the losses of previous years *(5% to 10%))

Debit: profit distribution-withdrawal of statutory public welfare fund

Loan: surplus reserve-statutory public welfare fund

5. Withdraw any surplus reserve fund (the proportion of this year's profit after making up the previous year's losses * the resolution of the board of directors).

Debit: profit distribution-withdraw any surplus reserve.

Loan: surplus reserve-any surplus reserve

If the plan approved by the shareholders' meeting is inconsistent with the resolution of the board of directors, it needs to be adjusted.