Many of us have seen the extra tax charged when you purchase products, but have you ever wondered how they are calculated? In this video you will learn the three factors that determine when sales tax is charged, and how it is calculated and recorded in your accounting system.
This video was created in relation to the Utah State CTE standards for the Accounting II High School course. Specifically, this video prepares students to complete Strand 3, Standard 2: Describe the process for journalizing and posting transactions related to sales and cash receipts.
