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Forums › ACCA Forums › ACCA FA Financial Accounting Forums › sales tax
so ill make this quick.. after calculating input and output tax
so.
input tax $ 1200
output tax $2000
what is the balance at the year end?
A: $800 debit
B:$800 credit
option c and d are just 200% wrong…
nice community…dead as……
prob solved nvm
close this thread
some posts are answered after weeks, but usually someone would answer it.
Input tax goes to Dr side, output tax goes to Cr side.
Answer B $800 credit.
Just 3 days 🙂