The sales tax owed

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The difference between the income tax and sales tax lies in the fact that the income tax aimed at the activity of the individual or company, while targeting the sales tax, goods and services sold which will shift the burden from vendor to another to the final consumer.

The method of recording sales tax restrictions
imposed by some States on companies of various kinds sales tax on goods and services sold, when the company buys merchandise from a retailer recorded in the tax would pay him the value of the goods as well as to the value of the tax due on the goods, when the company sells goods to another buyer under the tax bill, it would get him on the value of the goods as well as to the value of the tax, the difference between the tax paid on purchases, the tax collected on sales is supplied to the tax during the financial period, as follows:

1 under prove tax purchases paid in cash and the
debtor and the secured creditor statement
from FIGURING
xxx h/procurement or goods
xxx h/sales tax owed
xxx to h/fund the
value of purchases and sales tax paid in cash
2 under prove tax sales received in cash

from the debtor and the secured creditor statement xxx H/fund
to figuring
xxx h/sales tax owed
xxx h/sales
value of sales and sales tax collected in cash
3 to pay sales tax owed by the tax officer at the date

of the debtor and the secured creditor statement xxx h/sales tax owed
xxx to h/fund
to pay the value of the sales tax payable in cash
is an example
of sales invoices joy business during the month 1/2017 worth $10,000 before tax, procurement bills during the same period the value of 8000$ before tax, and in 10/02/2017 The company has to pay the value of the tax due for the month 1/2017 to the Tax Service, If I knew that the percentage of sales tax on the sale of goods is equal to 10%.

Required:
express restrictions on buying and selling.
Check under the payment of sales tax due to the Tax Service
Solution:
First: To express restrictions: the
value of tax sales tax due on sales = Sales value before the tax rate tax x
10000 * 10% = $1000
then the value of the amounts received in cash from sales = 10000 1000 equal $11,000

debtor creditor statement
11000 from h/fund
to FIGURING
1000 h/sales tax owed to
10,000 H/sales
prove tax sales invoices received in cash
Secondly: Registration Tax procurement restrictions: the
value of the tax due on purchases = value of purchases before the tax rate tax x
8000 * 10% = 800 $
then the value of the amounts paid in cash for procurement = 8000 800 equal 8800 $ The

creditor of the debtor's statement
of the Securityof
8000 h/procurement or goods
800 H/sales tax owed by
8800 To h/Fund
prove tax procurement bills paid in cash and the
third: the payment of the tax due to the tax:
after the former constraint recording sales tax will be shown the balance owed to the value of $200 (1000 - 800 = $200), when the payment of this


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