A sales tax registered business sells goods for $200 plus sales tax at 17.5% on credit Which of the following entries correctly records this transaction？

for the month and the amount of sales tax collected. Write a program that asks for the month, the year, and the total amount collected at the cash register （）. The program should display a report similar to Month: October -------------------- Total Collected: $ 26572.89 Sales: $ 25068.76 County Sales Tax: $ 501.38 State Sales Tax: $ 1002.75 Total Sales Tax: $ 1504.13

(a) Phi Ltd is a company set up in Guangzhou. In 2014 Phi Ltd incurred the following expenses:

(1) A consultancy fee of RMB3,500 for services provided in China paid to Mr Xie, who is a China tax resident.

(2) A consultancy fee of RMB70,000 for services provided in China paid to Ms Ma, who is not a China tax resident.

(3) A royalty of RMB80,000 paid to Deji Ltd, which is a China tax resident enterprise.

(4) A royalty of RMB90,000 paid to Backa Ltd, which is not a China tax resident enterprise.

Required:

For each of the four payments, state whether Phi Ltd will be a withholding agent for income tax, and where Phi Ltd is the withholding agent, calculate the amount of income tax to be withheld.

Note: Ignore value added tax and business tax, and any tax incentives available under tax treaties. (7 marks)

(b) Jack has set up an e-shop selling goods via an internet platform. His total sales in 2014 were RMB400,000. He did not register with the tax authorities or pay any taxes in 2014. This was discovered by the tax bureaus in 2015.

Required:

State the possible consequences Jack may be exposed to under the Tax Collection and Administrative Law, as a result of his failure to comply with the tax registration and tax payment requirements. (3 marks)

,000. The purchases in July 20X2, which were all subject to sales tax, were $161,000, including sales tax. Assume that the rate of sales tax is 15%. The difference between sales input tax and sales output tax is:

A、DR $9,000

B、CR $5,850

C、CR $9,000

D、DR $5,850

According to the passage, the sales tax is on all the following EXCEPT ______ .

A．clothes

B．desk pads

C．children shoes

D．portable computers

Sales (including sales tax) amounted to $27,612.50, and purchases (excluding sales tax) amounted to $18,000. What is the balance on the sales tax account, assuming all items are subject to sales tax at 17.5%？

A、$962.50 debit

B、$962.50 credit

C、$1,682.10 debit

D、$1,682.10 credit

(b) Write a letter to Joanne setting out the value added tax (VAT) registration requirements and advising on

whether or not she should or could register for VAT and if registered if she could recover the VAT suffered on

the consultancy fees and computer purchased in October 2005. (7 marks)

hases goods for $7,000 excluding sales tax. The opening balance on the sales tax account was $500 credit. Sales tax is 20%. What is the closing balance on the sales tax account？

A、$3,600

B、$3,000

C、$2,267

D、$3,267

A．Dr Purchases $500, Dr Sales tax $75, Cr Payables $575

B．Dr Purchases $575, Cr Sales tax $75, Cr Payables $500

C．Dr Purchases $500, Cr Payables $500

D．Dr Purchases $575, Cr Payables $575

Jack Co is registered for sales tax and the standard rate of sales tax is 20%. In August 20X9, sales and purchases were as follows: l Sales of $300,000 before sales tax; these items are subject to sales tax at the standard sales tax rate l Sales of $80,000 before sales tax; these items are zero-rated l Purchases of $128,000 before sales tax,; these items are subject to sales tax at the standard sales tax rate What is the net amount due to or reclaimable from the tax authorities in respect of these transactions？

A、$44,000

B、$34,400

C、$52,000

D、$60,000