Accounting entries of hotel purchasing hangers

1. When the hotel purchases clothes hangers and obtains corresponding invoices:

Borrow: management expenses-office expenses

Taxes payable-VAT payable (input tax)

Loan: Accounts Payable-Company Name

2. When the hotel pays for the clothes rack:

Debit: Accounts Payable-Company Name

Loans: bank deposits

3. When carrying forward this year's profit at the end of the period:

Debit: this year's profit

Loan: management expenses-office expenses

When a hotel purchases a clothes hanger, it shall be accounted for by the "management expenses" account first, then by the "accounts payable" account, and carried forward by the "profit of this year" account at the end of the period.