when catering enterprises buy drinks, they generally count them as inventory items for accounting. The sale of drinks is included in the main business income account. How should catering industry accountants make accounting entries for the business of buying drinks?

entry processing of purchasing drinks in catering industry

borrowing: inventory goods

lending: bank deposits

selling:

borrowing: bank deposits

lending: income from main business

payable taxes-payable value-added tax

carrying forward costs:

borrowing: main business costs

lending:

the substitute products processed and manufactured by incoming materials and the substitute products processed and repaired for other units are regarded as the finished products of the enterprise after the manufacturing and repair are accepted and put into storage, and are also accounted for by the inventory items.

Accounting entries for the company to buy drinks for entertaining customers

Debit: sales expenses-business entertainment expenses

Loan: bank deposits

If a commercial enterprise takes them from inventory goods, Use drinks for entertaining customers:

when purchasing:

borrow: inventory goods

taxes payable-value-added tax payable (input tax)

loan: bank deposit

when entertaining:

borrow: sales expenses-business entertainment expenses

loan: inventory goods

taxes payable (input tax transferred out) <