Construct the locus of a point P at a constant distance of 2 cm from a fixed point Q. Construct a circle with center Q and radius 2 cm. Locus formed: A perpendicular bisector of the line XY. Construct the locus of point P moving equidistant from fixed points X and Y and XY = 6 cm.
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No. The sales taxes collected in retail arenât included in earnings figures. Hence, sales tax isnât displayed in an income report. The collected sales tax is listed as a current liability until it is remitted to the government. As an example, letâs suppose that a retailerâs products face a state sales tax of 8.5%. If the retailer sells $1000 of products for cash, his or her business will collect $1085 in total, with $85 as sales tax revenue. This is marked as 1) a debit to Cash for $1085, 2) a credit to Sales for $1000 and 3) a credit to Sales Taxes Payable for $85. Remember that the Sales account did not show the $85 of sales taxes. When the business remits the sales taxes to the government, the liability account Sales Taxes Payable is debited.