Question

sheriden auro supply does not segregate sales and sales taxes at the time is sale. The register total for March 16, is $26,400. All sales are suject to a 10% sales tax.

Answer 1

lanscer Sales Tax Sales Tax is the indirect tax that would be collected on the sale of_gools. There is q fixed percentage 09_the_dmaynt of sales collected by the gover ment sometimes, dye_to_louge qmoyak of sales 10_49_047.491594101, organisationis not able to segregate the amount of sales tax._Then it would be segregated by the sales amount multiplied by percentage of sales tax and divided by the 100 percentage of saler lyx. Segregation of sales Tax from the sales : sales Revenue x Sales Tax Percentage 100 + Sales Tax Ipercentegen sales 9. Colwetion of Sales Tax Payable from Given sales : $26400 % of Sales Tax : 10% : sales TqX Payable : 26400 x 10 100 + lo C10 - 110) = • 26400 x $3400, P , bu که واپ Credit & 6. Journal Enlly to record sales tax and sales revenue || Debit. & I Cash Ale shoh Dvi 26400 To sales Revence Ac (26400 - 2400) To sales Tax Payable Ale Being to record sales revenue and sales tyx Payable a Total 26400 24000 2400 | 26400