Sales (including sales tax) amounted to $27,612.50, and purchases (excluding sales tax) amounted to $18,000. What is the balance on the sales tax account, assuming all items are subject to sales tax at 17.5%?
A、$962.50 debit
B、$962.50 credit
C、$1,682.10 debit
D、$1,682.10 credit
A、$962.50 debit
B、$962.50 credit
C、$1,682.10 debit
D、$1,682.10 credit
【参考答案及解析】
Output sales tax $27,612.50 x17.5/117.5 $4,112.50 Input sales tax $18,000 x100 $3,150.00 ...Balance on sales tax a/c (credit) $962.50
Output sales tax $27,612.50 x17.5/117.5 $4,112.50 Input sales tax $18,000 x100 $3,150.00 ...Balance on sales tax a/c (credit) $962.50