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sales tax

This topic has 3 replies, 3 voices, and was last updated 5 years ago by John Moffat.

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March 11, 2020 at 3:33 pm #565096
beticopper
Participant
- Topics: 69
- Replies: 13
is sales tax a capital or a revenue expense?
March 11, 2020 at 5:01 pm #565110
John Moffat
Keymaster
- Topics: 57
- Replies: 54699
Assuming that the business is registered for sales tax, then it is not an expense of any sort!!
You must watch my free lectures on this.
April 3, 2020 at 8:17 am #566404
Razler
Member
- Topics: 2
- Replies: 4
Q1.purchase of goods for 10000 plus 15 percentage sales tax…
D1. 1500/= is the sales tax that should be paid by the trader to the government,then for which price does the trader sell the goods to the customer?
10000 or 11500/=
April 3, 2020 at 9:41 am #566410
John Moffat
Keymaster
- Topics: 57
- Replies: 54699
11,500.
I really do suggest that you watch my free lectures on sales tax. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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