Sales tax…..explain your answer

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April 25, 2012 at 6:39 pm #52366
queeenshana
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If Mr. B purchased “Alpha” worth $10,500 (inclusive tax) and sold Beta worth $20,000 (exclusive tax). Calculate the amount in the sales ledger.
April 25, 2012 at 7:23 pm #96807
Vipin
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taking 17.5% as sales tax %.

tax on alpha is 10500*17.5/117.5=1564

tax on beta is 20000*17.5%=3500

dr sales tax 1564
cr sales tax 3500
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