Liquidation balance. settlements with founders  

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Published: 07/23/2019

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When a company's debt becomes too large and its owners see no way out of the crisis, they have the right to close the LLC and liquidate the business. But authorized authorities can also take care of liquidation by launching the process of forced liquidation or bankruptcy of a legal entity.

• Is it possible to liquidate an LLC with debts?
• Who has the right to become an initiator?
• Elimination methods Voluntary
• Liquidation by bankruptcy
• Forced
• Alternative

Accounts payable in the balance sheet: line 1520, which is included

Filling out a balance sheet is not the easiest task, especially for an inexperienced accountant. And to make your task easier, before registration you should find out the principles according to which data is entered into this type of accounting. So, for the convenience of accounting, this type of accounting is divided into sections and subsections, and in them there are lines in which, using debits and credits of accounts, the data that must be taken into account for further assessment of the financial condition of a legal entity is entered. This aspect is directly affected by various debts, which reduce the amount of the organization’s assets, and therefore require particularly careful calculation and error-free entry into documents. Further in the article about what accounts payable is in the balance sheet, its calculation and how it is noted.

What role does the authorized capital play in the balance sheet?

1. The constituent documentation must indicate the nominal value of the authorized capital in ruble equivalent. When property is listed at a value of more than 200 minimum wages, independent appraisers are invited.
2. The balance sheet contains information about the authorized capital in line 410 of passive funds. If an LLC is registered, the tax service requires repayment of capital by at least 50%. In the case of creating a joint stock company, 50% is paid within three months after registration, and the remaining part - during the year of existence.
3. When paying capital in cash, entries D 50, 51 and Kt 75 are made. Debts are formed using D 75 Kt 80.
4. If fixed assets are made as a contribution, then account 08 is selected. This is due to the fact that the owners contribute both the cost of the property and the costs of its maintenance, registration, input and evaluation.
5. When paying with raw materials or materials, a posting of D 10 Kt 75 is drawn up if their cost is taken into account, or D 10 Kt 76 when additional expenses are included. The decision is made based on the company's policy.
6. If the founder fails to contribute the balance of funds, it is possible to return the contributed share or distribute the part among other owners or sell it to an outsider. In this case, liquidation will be used.

More about accounts payable

Before talking about debt in accounting, it is worth recalling what these two definitions mean:

• Balance sheet is one of the main types of accounting. It contains information about the organization’s assets, its liabilities and capital status. It is expressed in two equal parts - an asset and a liability, the first of which reflects the value of all the organization’s property, and the second - how much money the company receives from outside thanks to its activities. Thus, using accounting, you can evaluate the financial and property status of a legal entity.
• Accounts payable on the balance sheet is a calculation of the organization’s debts to individuals and legal entities that must be covered within 1 year. It is included in liability, since it does not relate to the property of a legal entity, in section 5 “Short-term liabilities”.

The term accounts payable has several meanings, but they all say approximately the same thing - it is not long-term, and the calculation consists of:

1. Debts to suppliers and contractors.
2. Advances.
3. Debts to subsidiaries and the country's budget.
4. Amounts on bills.
5. Debts to staff, etc.

Read more about which accounts include balance calculations below.

Where is the debt of the founders reflected in the balance sheet?

Line 240 indicates the total amount of short-term “receivables”. Loans provided to other organizations are classified as financial investments and are reflected in account 58 “Financial investments”. This is stated in paragraph 3 of PBU 19/02 “Accounting for Financial Investments” and Instructions for the Application of the Chart of Accounts. Taking into account only these regulations, in the balance sheet information on interest-free loans is often disclosed as information on the organization’s financial investments. However, let us recall the main criteria for inclusion assets to financial (p.

This is necessary to increase working capital and comply with licensing requirements. You can increase capital using your own property or additional contributions from new participants. It is important to take into account some conditions:

Debt in accounting

There is a special line in accounting - 1520, which should include all calculations of the company’s debts that must be repaid within 12 months. They are called short-term. According to the transcript, line 1520 of the balance sheet may contain calculations for the following accounts:

1. Balance 60 - debts incurred during settlements with suppliers (15201).
2. Credit balance 62 - debts with buyers or customers. (15202).
3. Balance 68 concerns taxes and other fees (personal income tax, VAT, transport, property tax, etc.), but 69 concerns fees for social insurance. These are pages 15203 and 15204.
4. Credit balance 70 relates to payments for employee salaries, so this is one of the most serious arrears - when employees do not receive wages on time (Line 15205).
5. Balance 71 - debts to pay for the services of persons working for the organization, but not on staff - page 15206.
6. Credit balance 73 - debt obligations to personnel for any payments other than wages. Also line 15206.
7. Credit balance 75 - balances of debts for payments to the founders (15207).
8. Balance 76 concerns creditors and debtors. The latter is disclosed in detail in the asset, and the first in the liability (15208).

What is reflected in the account 75

It is used to summarize data on all types of settlements with the founders and participants of the organization. These can be shareholders of a joint stock company, participants in a general partnership, members of a cooperative, etc. Account 75 reflects the following transactions:

• on contributions to the authorized (share) capital of the organization;
• for payment of income (dividends), etc.

Unitary enterprises - state unitary enterprises and municipal unitary enterprises - use this account to account for all types of settlements with government agencies and local governments authorized to create them.