Accounting entries of local water conservancy construction funds
Cumulative time:
Borrow: taxes and surcharges
Loan: Taxes payable-local water conservancy construction fund
After payment:
Borrow: taxes payable-local water conservancy construction fund
Loans: bank deposits
What is the water conservancy construction fund?
Water conservancy construction fund is a special fund for water conservancy construction, which consists of central and local water conservancy construction funds. The central water conservancy construction fund is mainly used for key water conservancy projects related to the overall economic and social development. The local water conservancy construction fund is mainly used for local water conservancy projects. The investment in major water conservancy construction projects across provinces and basins (autonomous regions and municipalities directly under the Central Government) and the management of key protection projects of transnational rivers and border rivers in China are jointly undertaken by the central and local governments.
What are taxes and surcharges?
Taxes and fees are profit and loss subjects, which refer to the relevant taxes and fees that enterprises should bear in their business activities, including consumption tax, urban maintenance and construction tax, education surcharge, resource tax, environmental protection tax, land value-added tax, property tax, vehicle and vessel tax, urban land use tax, stamp duty, farmland occupation tax, deed tax, vehicle purchase tax, etc.
At the end of the period, the balance of this account should be transferred to the "profit of this year" account, and there should be no balance in this account after the carry-over.