Respuesta :
Answer:
$10,619.05
Explanation:
When sales is made at a tax rate of 5%, the entries to be posted in the proportion of the transaction amount
Dr Cash/ Accounts receivable 105%
Cr Sales revenue 100%
Cr Sales tax 5%
As such, if Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales, it means that the accounts contains 105%, as such, the sales tax which is the amount owed the taxing agency
= 5/105 * $223,000
= $10,619.05
Answer:
10619.05
Explanation:
Sales without tax x (100%+sales tax rate) = sales with sales tax
sales without tax x 1.05 (100+5%) =223000
sales without tax = 223000/1.05
sales without tax = 212380.95
sales with sales tax - sales without sales tax = sales tax
223000-212380.95=10619.05
