On July 1, 2012, a joint-stock company transferred an intangible asset for a price of 650,000 yuan, and at the same time incurred related taxes of 50,000 yuan.

The net loss is income - expenditure, income 65 - expenditure 85

The accounting entries are:

Debit: bank deposit 65

Credit: Non-operating income 65

Debit: Accumulated depreciation of intangible assets 120 (200/5*3=120)

Non-operating expenses 85

Credit: Intangible assets 200

Taxes payable 5