|accrued sales tax||0.32||0.8||7284||52|
|accrued sales tax entry||1.92||0.5||280||91|
|accrued sales tax account||1.56||0.4||8509||61|
|accrued sales tax payable||0.83||0.8||7536||86|
|accrued sales tax payable journal entry||0.8||0.6||1425||35|
|accrued sales tax definition||0.21||0.5||528||75|
|sales tax payable accrued liability||0.48||0.9||9810||79|
|accrued sales tax journal entry||1.37||0.9||9018||73|
To calculate the sales tax that is included in a company's receipts from items subject to sales tax, divide the receipts by 1 + the sales tax rate. For example, if the sales tax rate is 6%, divide the total amount of receipts by 1.06.Are accrued taxes current liabilities?
Accrued expenses are reported in the current liabilities section of the balance sheet. Accrued expenses reported as current liabilities are the expenses that a company has incurred as of the balance sheet date, but have not yet been recorded or paid. Typical accrued expenses include wages, interest, utilities, repairs, bonuses, and taxes.