【单选题】W is registered for sales tax. The managing director has asked four staff in the accounts department why the output tax for the last quarter does not equal 20% of sales (20% is the rate of tax). Which...
A.
The company had some exports that were not liable to sales tax.
B.
The company made some sales of zero-rated products.
C.
The company made some sales of exempt products.
D.
The company sold some products to businesses not registered for sales tax.
【单选题】Which is registered for sales tax, received an invoice from an entertainment agency for $4,000 plus sales tax(Irrecoverable sales tax). The rate of sales tax on the goods was 17.5%. The correct ledger...
A.
Debit Entertainment expense 4,000 Credit Payables 4,000
B.
Debit Entertainment expense 4,700 Credit Payables 4,700
C.
Debit Entertainment expense 4,700 Credit Payables 4,000 Sales tax control account 700
D.
Debit Entertainment expense 4,000 Sales tax control account 700 Credit Payables 4,700
【单选题】W is registered for sales tax. The managing director has asked four staff in the accounts department why the output tax for the last quarter does not equal 20% of sales (20% is the rate of tax). Which...
A.
The company had some exports that were not liable to sales tax.
B.
The company made some sales of zero-rated products.
C.
The company made some sales of exempt products.
D.
The company sold some products to businesses not registered for sales tax.