Friday, March 27, 2009

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book capital loss reduction effects

Given the current economic situation there are many companies that get results negative year after year, when that happens we find that reflecting our accounts in terms of capital does not correspond exactly with the real situation, to remedy this, Gazelle Circle recommend you make a capital reduction to cover these debts.
From the Department of Management Circle Gazelle, then try to leave this movement in the clearest possible through an example and a few basics to consider in drawing up these seats.
Corporations Act says that capital reduction shall be binding on the company when the losses its net assets have fallen below the 2 / 3 parts of the share capital and a fiscal year has elapsed without having recovered equity.
Let's see an example:
We have a company with net assets consist of: Capital Social € 10,000 € 7,500 voluntary reserves and legal reserve € 750. Drag
losses of previous years from 12,000 €
The first thing to do is see if it has forced the curtailment of mandatory capital losses: Equity
+750-12000 7500 = 10,000 = € 6,250 € 6,250
< 6.666 (2/3 de 10.000€)
Therefore, we would be required to make the capital reduction as new equity it to the underside 2 / 3 share capital company.
The law also says that not be able to deduct the capital in order to restore the balance between capital and equity when the society has some kind of voluntary reserves, or when the legal reserve, one after the reduction exceeds 10% of the capital.
continue with the example above:
will be affected by the reorganization the following accounts: Voluntary reserves
: 7,500 € and up to € 12,000 (loss we had) we must also reduce social capital and legal reserve, we will make representations of the following Mode:
12000-7500 = 4,500 €
To reduce the exact quantities and respect the ceiling of 10% mentioned above. Use a system of equations which we call Social Capital and Legal Reserves = X = Y to find the new amounts
X + Y = 4,500 €
750-Y = 10% (10,000-X) we have Solving
Social Capital = 4,318 ' 19 and Legal Reserve = € 181.81
When it is inscribed in the Commercial Register the new script with new equity will be held the following entry:
should: 7,500
113.Reserva Volunteer (equity) 181'81
Legal 112.Reserva (equity) 4,318
Social 100.Capital '19 (equity)
Haber: 12,000
negative 121.Resultados previous years (equity)

hope you this information is helpful, a greeting to the next post ...

Monday, March 16, 2009

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Circle Gazelle In much repeated phrases: lack of funding, lack of liquidity ... these terms are the great enemies of the employer, especially the self-employed or small business. To counter these situations we use different tools to balance the receipts and payments of our company, in this blog and talk about how to account for loans and credit facilities, now try the discounting of bills.

is normal that when we sell a product or a service our customers pay get paid to spin effects accepted, if so we have 2 options, wait for the expiration of the letter to collect or deduct it, and get cash before. Whether you opt for one option or another seat sale is as follows:
Active:
4310. Commercial purposes
portfolio Liabilities:
700. Sale of goods
477. Iva affected HP

If we wait until maturity when it comes to pass that date would realize the following entry:
57x. Treasury 4310.
portfolio trading purposes
But if we choose to discount the option of cash available to continue working with the accounting treatment would be:
1 .- Once we have accounted for the sale, and we will discount the effect:
572.Bancos
665.Intereses effects of discount (for the amount of interest) discounted effects 5208.Deudas by
2 .- Once the customer to pay the debt to us for purposes 5208.Deudas
discounted discounted business 4311.Efectos

All this provided our clients pay off their debt to the expiration date of the effect, if not the accounting treatment once we know who has not paid the debt would be a bit more complex and therefore subject for another day ...

hope that helps you, and we said goodbye until the next entry.

Friday, March 13, 2009

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Discount How to post an invoice received retention? Post

Through this blog we are going to explain how we have to count the bills received for the services of a professional, such as a lawyer, an adviser, a notary or an architect, and in the case of invoices for entrepreneurs who are given high in certain sections of the building.
What does it mean or what I have to do if I receive an invoice with retention?
We, having received an invoice with retention, we become "retainers." What do you mean? We have an obligation to join the Treasury that amount will be deducted on the invoice via a quarterly declaration (model 110)
This retention, if is a person carrying on his occupation (lawyer, notary ...) is 15% usually, although it may be 7% during the first two years of its activity.
With so be careful with is that certain construction activities developed by individuals, are subject to a 1% retention, so we can find bills with this type of retention.
We propose the following scenario to explain as reflected in the book that deduction. We assume that we receive a bill from our attorney that amounts to 1,000 € plus 16% VAT. We apply a withholding tax of 15% of their income tax. We should record the following entries:

1. In the invoice received
- On the debit side:
1000 (623) Independent professional services
160 (472) Treasury VAT
- For having:
(4751) Public finance, withholdings payable
150 (410 ) Trade for services rendered 1,010

2. When paying the bill
- On the debit side:
1010 (410) Payable for services
- For having:
(572) Bank and credit institutions c / c sight
1,010 euros
3. Quarterly is to present the Model 110, and enter the deductions made. Then we'd get to the next seat
- On the debit side:
(4751) Public finance, withholdings payable
- For having:
(572) Bank and credit institutions c / c sight euros

This 4751 so the account would be canceled
Remember also that the end of the year you have to send these professionals a withholding certificate stating the gross wage, the liquid collected and the amounts withheld. Greetings