Accounting entries of outsourcing intangible assets
Borrow: intangible assets-non-patented technology, etc.
Taxes payable-VAT payable (input tax)
Loans: bank deposits
The cost of outsourcing intangible assets: including the purchase price, relevant taxes and other expenses directly attributable to making the assets reach the intended purpose.
What is intangible assets?
Intangible assets refer to identifiable non-monetary assets without physical form. Intangible assets can be divided into broad sense and narrow sense. Intangible assets in a broad sense include financial assets, long-term equity investment, patent rights, trademark rights and so on. Because they have no physical entity, they represent some kind of legal right or technology. But intangible assets are usually understood in a narrow sense in accounting, that is, patent rights and trademark rights are called intangible assets.
What is the tax payable?
Taxes payable refer to all kinds of taxes that should be paid by enterprises according to the operating income and profits achieved in a certain period of time and in accordance with the provisions of the current tax law.
Including value-added tax, consumption tax, enterprise income tax, resource tax, land value-added tax, urban maintenance and construction tax, property tax, land use tax, travel tax, education surcharge and other taxes paid by enterprises according to law, as well as personal income tax collected and remitted by enterprises before being turned over to the state.
What is a bank deposit?
Bank deposit is the currency deposited in the bank, and it is an integral part of monetary funds. According to the provisions of China's cash management system, every enterprise must open a deposit account with the People's Bank of China or a specialized bank for deposit and withdrawal, transfer and settlement. Except for a small amount of cash within the prescribed limit, the monetary funds of the enterprise must be deposited in the bank.