Friday, July 6, 2018

Different Types & Generations of Computers with Advantages & Disadvantages (notes)

The very simple definition of Computer is, " It is electronic device which is used for storing the data & processing the data by using binary numbers. User can provide multiple instructions of performing specific tasks under specific conditions. As per user requirements, there are three main types of computer and five generations of computers.


TYPES OF COMPUTER

Due to different behavior of computer we can divide it in three types according to it

Analog Computers
Digital Computers
Hybrid Computers


Analog Computers

  • Analog computers show the continuity of specified value means, which are used to measure continuous values.
  • Analog computers operate by measuring rather than counting.
  • An examples are analog clock, thermometer.

Digital Computers

  • Digital computers based on the rule of counting. These directly count numbers.
  • In fact digital computers used signals, which can distinguish between just two values 0 and 1.
  • Digital watches are the example of digital computers.
  • Desktop computers and Laptop are also the examples of digital computers.

Hybrid Computers

  • The combination of Analog and Digital computer is called Hybrid.
  • These are better and widely in used.
  • A part of processing is done on analog and a part of processing is done on digital computer.
  • An example of Hybrid computer system is a cement plant where all calculations are made by digital computers and action such as increase/ decrease in certain material by analog computer.

Computer technology changed with time, the very first generation computer was designed back in 1950 and it kept improving time to time. 5 Different Computer generations and further developments are mad with time.

GENERATIONS OF COMPUTERS

First Generation Computers (1942-1955)
Second Generation Computers (1955-1964)
Third Generation Computers (1964-1975)
Fourth Generation Computers (since 1971)
Fifth Generation Computers (Present- Beyond)


FIRST GENERATION COMPUTER (1942-1955):

  • The vacuum tube technology was used in first generation computers.
  • MARK-1, ENIAC, EDVAC, UNIVAC-1 etc machines belong to the first generation of computers.

Advantages

  • Vacuum tubes were only electronic components available during those days.
  • Vacuum tube technology made possible the advent of that time.
  • They could perform computations in milliseconds.

Disadvantages

  • Too bulky (large) in size.
  • Unreliable.
  • Air-conditioning required.
  • Thousand of vacuum tubes were used to produce large amount of heat and burnt out frequent.
  • Not portable.

SECOND GENERATION COMPUTERS (1955-1964):

  • The transistor technology was used in second generation.
  • It was invented in 1948 at Bell laboratories.
  • The transistor is smaller in size and more reliable than vacuum tube.

Advantages


  • Smaller in size as compared to first generation computers.
  • More reliable.
  • Less heat generated.
  • These computers were able to reduce computational times from milliseconds (10-3) to microseconds (10-6).
  • Better portability.

Disadvantages

  • Air conditioning required.
  • Commercial production was difficult and costly.
  • Frequent maintenance required

THIRD GENERATION COMPUTERS (1964-1975):

  • The IC (integrated Circuits) technology was used in third-generation.
  • It is small in size (upto 5mm square).
  • A circuit having large number of electronic components like transistors, capacitors etc.

Advantages

  • Maintenance cost was low because failure rate of hardware was very low.
  • Portable and more reliable.
  • Easily movable.
  • Less power requirement than previous generation computers.
  • Commercial production was easier and cheaper.

Disadvantages

  • Air conditioning required in many cases.
  • Highly difficult technology required for the manufacture of IC chips.

FOURTH GENERATION COMPUTERS (SINCE 1971):

  • The microchip technology was introduced in this generation. With the advancement in IC technology, LSI (large Scale Integration) chips were developed.
  • After LSI, the VLSI (very large scale Integration) was developed and made the development possible. 
  • Using VLSI technology the entire CPU is designed on a single silicon chip.

Advantages

  • Smallest in size because of high components density.
  • Very reliable.
  • Heat generation is low.
  • Large memory.
  • Portable and reliable.
  • Cheapest among all generations.

Disadvantages:


  • Highly difficult technology is required for the manufacturing of microprocessor chip.
  • Fifth Generation Computers (Present- Beyond)
  • Having their own thinking power.
  • Making decisions themselves.
  • Having capabilities of learning.
  • ULSIC (Ultra Large Scale Integrated Circuits) technology.
  • Artificial Intelligence



Thursday, June 7, 2018

Business Taxation Old Papers B.Com


1st Annual 2009
BUSINESS TAXTION
Mr Reshmedd Shahid is a junior accountant with Husain Ltd Data for filing his INCOME TAX RETURN for the tax year ended 30th June 2008 is given below.
                Ia)  BASIC SALAR                                                                                                               Rs 500,000
                b) BOUNUS                                                                                                                            1,20,000
                c) Free unfurnished Accommodation Provided by Employer
 with land area of 500sq.yard                                                                                                                                 
                d) Part time Chowkidar                                                                                                                          25,000
                e) Cost of motor (Motor Vehicle Provided by the employer for                           300,000
                    busine3ss and private use. Expenditure incurred during the year Rs 40,000
                f) Personal Medical Expense                                                                                                       20,000
                g)Qualification pay                                                                                                                       40,000
                h) Donation o Baitul Mal Fund                                                                                                    5,000
                i) Donation to Relief Fund Sponsored by Government                                          50,000                             j ) Tax deducted from salary                                                                                          60,000
                k) Piziz on prize Bonds                                                                                                   80,000  
2.            Define and explain the following terms with reference to Income Tax Ordinance 2001?
                i)             ASOCIATION OF PERSON
                II)            CAPITALASSET
                III)          COMPANY
                IV)          FOREIGN SOURCE OF INCOEM
3.            State with reasons whether the following are admissible or not under the Income Tax Ordinance.
                i)             SALARIES                             II)            LETIGATION EXPENSES
                III) INITIAL EXPENSES                     IV)          ACCOUNTING DEPRECIATION
                V)           AUDIT FEE                           VI)          RETURN OF PERMMISES
                VII)         ADDVER TISING EXPERNSES        VIII)       COST OF ISSUE OF SHARES
                XI)          BAD DERTS                                          X)            CHARITY PAID DTO BEGGAR
4.            What penalties can be imposed in the following cases?
                i)             OBSTUCTION                                     II)            CONCEALMENT of INCOME
                III)          INITTAL EXPENSES                           IV)          ACCOUTIG DEPRECIATION  
5.            What do you mean by AGRICULTURE INCOME? Is it TAXABLE  in Pakistan? Give at least FIVE  example of Agricultural Income and FIVE examples of Income which although derived from land yet are not Agricultural?
6.            Explain in detail the provision of INCOEM TAXORDINANCE 2001 in respect of appeal
                TRIBUNAL and Composition and Function of Appellate Tribunal.
7.            Explain the ASSESSMENT of COMPANTES according to Income Tax Ordinance 2001
8.            Define and explain the following terms under the Sales Tax Act.
                a) APPELLETE TRIBUNAL                                b) VALUE OF SUPPLY
                c) BANKINBG COMPANY                              d) MANUFOACTRER
9.            Mr Mujahid Ali is a COMMERCIAL IMPORTER Data regarding his business for September quarter is as under.
                a)            Income value of Imported goods                                                              2,50,000.
                b)            Value determined for Customs Duty at the stage of Import         3,50,000
                c)            Custom Duty                                                                                                      1,00,000
                d)            Federal Excise Duty                                                                                         50,000
                e)            Required: Calculate Sales Tax Liability                                                     8,00,000


1.            Mr  zain a senior citizen of Pakistan supplies the following information for the tax year ended on 30th June Compute his tax payable.
                  a)          SA LARY                                                                                                                RS: 280,000
                b)            Cost of living allowance                                                                                                 20,000
                 c)           Property Income (Repair charges Rs 8000, Property tax Rs 3000, water
                                Charges Rs 2000)                                                                                              60,000
                d)            Un –adjustable Advance                                                                              40,000
                e)            Income from fish catching business.                                                        25,000
                f)             Rent Free unfurnished accommodation provided to him                               ………
                g)            zakat deducted at source                                                                             32,00
                h)            Tax deducted at source                                                                                 3000
                i) Capital gain (disposed off within 12 months on sale of shares of private Co            5,000 
                j)             Loan obtained from the employer @ 10%                                             100,000
      2.          Explain the following terms with reference to Income Tax Ordinance 2001.
                                i)             PROFIT ON DEBT                                              II)            PENSION
                                III)          INCOME OF UNIT                                             IV)          SPECIAL ALLOWANCE
  3.          Explain the legal provision governing the exemption of the following under           Income Tax Ordinance 2001.
                i)             PROFIT ON DEBT                                                              ii)             PENSION
                iii)           INCOME OF UNIT                                                             iv)           SPECIAL ALLOWANCE
            4.      What are the Conditions laid down under INCOME TAX ORDINANCE for DEPRECIATION           ALLOWANCE?                   
        5.    Discuss the power and Functions of a REGIONAL COMMISSIONER of  INCOME TAX ?
        6.    Discuss the following Types of Assessment made by Commissioner of INCOME TAX:
                      a )RETURN OF INCOME                                                               B)AMENDED ASSESSMENT  
                      C) PROVISIONAL ASSESSMENT                                                                D) ASSESSMENT OF DISPUTED                                                                                                       PROPERTY
        7.         How would you Differentiate between CAPITAL and REVENUE RECLIPT ?
         8.          Define and explain the following terms under the month of August 2007 its       purchases and sales as per return  are as under.
                      a) Taxable turnover to registered persons                                                          Rs. 2600,000
                      b) Taxable turnover to non- registered persons                                                                    100,000
                      c) Tax able turnover to registered retailers                                                               150,000
                      d) Supplies to government hospital                                                                             200,000
                      e) Supplies to private hospital                                                                                       180,000
                      f) Taxable purchases from registered persons                                                      100,000
                      g) Taxable purchases against commercial invoices                                                70,000
                      h) Taxable purchases against  tax invoices                                                              50,000
                      i) Imported taxed goods                                                                                                300,000
                      j) General sales tax paid on electricity bill                                                              40,000
                                    Required: Calculate Sales Tax  Chargeable


(B.com Part –II)
Business Taxation
1.From the following data, calculate Income Tax payable by Mr saad for the tax year ending 30th June 2010
i)     Basic salary Rs 26000 P.M in the scale Rs 20,000 – 2,000 – 40,000)
ii)   Bonus Rs 88,00
iii)   Medical allowance Rs. 35,000
iv) House rent allowance at 50% of basic salary drawn
v)   Gas and electricity allowance R.s 20,000
vi) Yield received on a National Savings Deposit Certificate R.s 10,000
Vii Zakat was deducted Rs 40,800
  ]    viii) Qualification pay Rs. 25000
        ix) Overtime Payment received from employer Rs. 10,000
       x) Agricultural Income R.s 50,000
     xi) Special Relief Allowance R.s 30,000
                  xii) Lahore Club Membership fee paid by employer R. s 12,000
                  xiii) Telephone Bills paid by employee himself R.s 20,000 Tax paid with telephone bills                  R.s 400)
                  xiv) Tax paid on cash withdrawal from bank R.s 2001
2.Define the following term with reference to income tax ordinance 2001
i)     AGRICULTURAL INCOME                            ii)CAPTIAL ASSET
ii)   Special allowance                                           iv) COMPANY
3.Explain the legal provisions the exemption of the following under the second schedule of Income Tax Ordinance 2001.
i)     PENSIONS                                                         ii) AMOUNT OF GRATUTTY
ii)   SPEDIAL ALOWANCE                                   
4.What is PROVIDENT FUND? Discus the treatment of various types of provident find for inclusion in total income and exemption from tax.
5.Explain specifically at least ten allowable dedication under the head ‘’Income from business or profession’’ under section 20 of Income Tax Ordinance 2001.
6.Discuss the Powers, and Functions of COMMISSONER of INCOME TAX.
7. a) What does the word ‘’ ASSESSSMENT’’ signifies?
b) Write short notes on the following.
i)   PROVISIONAL ASSESSMENT
II) RETURN OF INCOEM AS ASSESSMENT
iii)  AMENDMNT IN ASSESSMENT
8.Define and explain the following  terms with reference to SALE TAX ACT.
i)     ASSOCITED PERONS
ii)   INPUT TAX
iii)  WHOLE SALER
iv) ZERO RATED SUPPLY
9.Mr  Masood is an importer. Data regarding his business for September 2009 in as under.
a)    Invoice value of imported goods                                                                            Rs. 250,000
b)  Value determined for customs, duty at the stage of import                       Rs . 350,000
c)   Customs Duty                                                                                                                  Rs. 100, 000
d)  Federal Excise Duty                                                                                                       Rs .50,000
e)  Taxable supplies to registered person                                                                  Rs. 800,00
Required : Calculate Sales Tax payable                                                                                  
                    Taxable Income                                                                                                            Rate of Tax
a)      Rs, 450,001 to Rs. 550,000                                                                                   3.5%
b)      Rs. 550,001 to Rs . 650,000                                                                                  4.5%
c)       Rs. 650,001 to Rs. 750,000                                                                                   600%

(B.Com Part II)
Business Taxation
  1.From the following data calculate income tax payable Mr saad for the tax year ending 30th                      June 2010.
                                i)             Basic salary Rs. 30.000(P.m) in the scale (Rs.20,000 -2,000-40,000
                                ii)            Bonus R.s 90,000.
                                iii)           Medical allowance R.s 40,000
                                iv)           House rent allowance at 50% of basic salary  drawn.
                                v)            Yield received on National Saving Deposit Certificate R.s 10,000
                                vi)           Gas and electricity allowance Rs. 20,000
                                vii)          zakat was deducted Rs. 40,000
                                viii)         Qualification pay R.s 25,000
                                ix)           Overtime payment R.s 20,000
                                x)            Special relief allowance R.s 30,000
                                xi)           Gymkhana membership fee paid by employer R.s 15,000
                                xii)          Telephone bill paid by employee himself R.s 20,000 (Tax paid with                                              telephone bills R.s 400)
                                xiii)         Cash paid on cash withdrawal from R.s 3,000
Taxable Income
Rate of Tax
R.s 550,000 to R.s 650,000
4.50%
R.s 650,000 to R.s 750,000
6.00%
R.s 750,000 to R.s 850,000
7.50%


    2.          Define the following terms with reference to Income Tax Online 2001.
                  i)           BUSINESS                                                            ii)            CAPITAL ASSET
                  iii)         COMPANY
  3.            Explain the Legal provisions Governing the exemption of the following under Income                  Tax Ordinance 2001                        
                                i) Special Additional Allowance                                   ii) special Allowance
                                iii) Medical Allowance
    4.          Define CAPITAL and REVENUE EXPENDITURE Allowances and Conditions of their                             admissibility under the Income Tax Ordinance.                 
 
  5.            Explain the various Types of DEPRECIATION allowances and Conditions of their                                admissibility under the income Tax Ordinance.
  6.            Write in detail the Legal provisions Relating to the filing of return of total income Tax                    Law.
  7.            Briefly explain the Legal Provisions Relating to the Powers and Function of                                         Commissioner of Income   Tax .
  8.            Write short notes on the following with reference to Sales Tax Act.
                                i) Turnover Tax Return.
                                ii) Appeal to Appellate Tribunal.
                                iii) Requirement of Registration
  9.            Mr Mahmood is engaged in assembling of air conditioners. He is registered with sales                  tax department. Following is the data for September, 2010:
                                i) Sales to Registered Persons                                                    Rs. 40,00,000
                                ii) Sales to Non-n glistered Persons                                          R.s 800,000
                                iii)  Sales to DTRE registered persons                                       R.s 100,000
                                iv)  Purchase from Registered persons                                   R.s 700,000
                                v)  purchase from Non-registered persons                           R.s 500,000
                                vi) Imported Good Taxable                                                          R.s 12,00,000
                  Required: Calculate the sale Tax payable by Mr Mahmood.

1st Annual 2012
Business Taxation
1.Mr saad in the chief accountant of A vari hotel He has furnished the following particulars of his income for the tax year ended 30th june 2011
i)                    Basic salary Rs. 26.000 p.m in the pay scale of R.s 15,000-1,000-30,000
ii)                   Bonus Rs 88,000.
iii)                 Rent unfurnished accommodation is provided by the employer.
iv)                 Salary of Mali and Chowkidar borne by employer Rs 2,000 p.m.
v)                  Conveyance allowance Rs 27,000
vi)                 Interest free loan obtained from employer Rs 300,000
vii)               Medical allowance Rs 35,000
viii)              Income of non- professional writer Rs 15,000
ix)                 Bonus shares received from public Ltd. Co Rs 70,000,
x)                  Subsidized lunch facility Rs 20,000
xi)                 Motor vehicle tax paid Rs 2,000.
xii)               Profit on security issued by banking Co Rs 15,000
xiii)              Children education free paid dby the employer Rs 10,000
Required: Calculate Tax payable
                                              Taxable Income                Rate
                                                Rs 450,000 to Rs 550,00                3.50%
                                              Rs 550,000 to RS 650,000               4.50%
                                              RS 650,000 to RS 750,000               6.00%
2. Explain the following terms wi8th reference to Income Tax Ordinance 2001:
                  i)DIVIDEND                       ii) ACCUMULATED PROFIT
iii) FROFIT ON DEBT      
3. Explain the legtal provisions governing the exemptions of the following under Income Tax Ordinance 2001.
                  i)AGRICULTURAL            ii)PENSIONS
                  iii)PROFIT ON DEBT
4.  What is PROVFIDENT FUND? Discuss the treatment of various types of provident fund for inclusion in total imcoem and exemption from imcoem tax .
5.Why distinction between CAPITAL and REVENUE  is important from income tax view point? Brief explain six tests for differentiating capital and Revenue Receipts.
6.Explain in detail the provisions of Income Tax ordinance 2001 in respect of APPEAL to APPELLATE TRIBUNAL and the composition and Function of Appellate Tribunal.
7.What is meant by set –off and carry forward of the losses. Explain the Exceptions and Characteristics of various losses in this regard.
8.Define and explain the following terms with reference to Sales Tax Act 1990.
      i)TAXINVOICE                  ii)ARREARS
      iii) OUTPUT TAX              iv)ZERO RATEDD SUPPLY
                     
9.Moonlight is registered manufacturer, Data regarding its business for the month of Sep 2011 is as follows.
1-      Total turnover during the month                                                      RS. 1,600,000
2-      Sales include supplies to DTRE registered persons                    RS. 300,000
3-      Sales include zero rated supplies                                                      RS. 200,000
4-      Sales include sales to non registered persons                             RS. 250,000
5-      Sales to wholesaler                                                                                                 RS. 400,000
6-      Purchases taxable                                                                                   RS1,200.000
Purchases include Rs. 700,000 in respect of which tax invoices are available
7-      Goods imported                                                                                       Rs. 800,000
8-      Sales tax paid on telephone bill                                                         Rs. 10,000
Calculate Sales Tax payable.
2nd Annual 2012
Business Taxation
1.Mr Mahood is serving in Gujrat Engineering works He supplied following data for the tax year ended 30th June 2011
                  i)Salary Rs 40,000 p.m
                  ii)Hose rent allowance paid by company RS. 280,000
                  iii)Conveyance provided by employer for private use. Cost of acquisition of vehicle                        was  Rs.400,000
                  iv)Telephone bills reimbursed by the employer R.s 25,000
                  vHe donated R.s 14,000 to university of Gujrat and R.s 6,000 to Social security                                   Hospital.
                  vi)Cash award granted by President of Pakistan R.s 50,000
                  vii)He purchased shares of Public Ltd. Co R.s 30,000
                  viii)Zakat deducted R.s 15,000 and payment to workers welfare fund R.s 10,000.
                  ix)He received R.s 20,000 as Royalties on professional books the same is invested in                      prize bonds,
                  x) He has fish catching business the income for current year is R.s 12,000
                  xi) His son is in USA and he remitted R.s 60,000 to him during the year.
                  xii)Domestic servant salary paid by employer R.s 28,000

              xiii) Gain on sale of listed company shares (holding period more than one year) R.S                                            35,000
xiv)             Project allowance R.s 8,000.
xv)               Cash withdrawal from bank R.S 45,000
Required: Compute Taxable Income and Tax Payable
Taxable Income              Rate of Tax
                              R.s 650,000 to R.s 750,000             6.00%
                              R.S 750,000 to R.S 900,000            7.5%
                              R.S 900,000 to R.s 1.050,000         10.00%
    2.          Define the following terms as defined in the Income Tax Ordinance 2001.
                  i)           PRINCIPAL OFFICER                                        ii)            TAX PAYER
                  iii)         TAX YEAR
3.              Define AGRICULTURE INCOME it is taxable in Pakistan? Give at least  five examples of                  agriculture income and non- agricultural income.
4.              Briefly explain the legal provisions governing the filing of return of total income                              under the Income Tax Law.
5.              Discuss the procedure for filing of APPEALS and REFERENCES under the Income Tax                      Law.
6.              Why is the distinction between CAPITAL and REVENUE  is important from Income Tax                  view point Briefly explain different tests for differentiating capital and revenue                                                expenditure.
7.              Discuss 10(TEN) requirements of TAX DEDUCTED at SOURCE:
8.              Discuss the powers and Functions of REFIONAL COMMISSIONERS  of Income Tax.
9.              Sunlight Co ; is a distributor of certain chemicals, during the month of Aug 2011 its                          purchases and sales as per return are under:
                                1.            Taxable turnover to registered persons                                                 R.S 2,600,000
                                2.            Taxable turnover to non- registered person                        R.S 300,000
                                3.            Tax turnover to registered retailers                                         R.S 280,000
                                4.            Supplies to Govt. hospital (consists of less than 50 beds.) R.S 350,000
                                5.            Supplies to private hospital                                                         R.s 260,000
                                6.            Supplies to Govt. hospital (consist of more than 50 beds.)
                                7.            Taxable Purchases from registered person                          R.S 220,000
                                8.            Taxable purchases against commercial invoices                  R.S 180,000
                                9.            Taxable purchases against tax invoices                                   R.S 150,000
                                10.          Imported Taxed goods                                                                  R.S 400,000
                                11.          General Sales tax paid on electricity hill                                  R.S 50,000
                  Required :Calculate the Sales Tax payable.

1st Annul 2013
(B.Com Part-II)
Business Taxation
1.Mr Bilal is an accountant with ABC Limited. Data for filing his income tax return for the tax year ended 30th june 2012 is given below:
     
i)     Basic  Salary                                                                                      R.S  5,80,000
ii)   Cost  of living allowance                                                              R.s 120,000
iii)  Free unfurnished accommodation provided by employer with land area of 500 sq. yads                                                                                  
iv)  Part time chowkidar                                                                    R.s 40,000
v)   Cost of motor vehicle (motor vehicle provided by the employer for business and private medical Expenditure income during the year R.s 40,000)
vi)           Personal medical expenses                                                 R.s 20,000
vii)               Qualification pay                                                                      R.s 35,000
viii)              Donation to Batul mal fund                                                R.S 5,000
ix)           Donation to relief  fund sponsored by Government  R.s 70,000
x)             Tax deducted from salary                                                                  R.s 55,000
xi)           Prize on prize Bond                                                              R.s 80,000
xii)               Gain of sale of shares of public company (holding period more than one year) 25,000
                  Required Statement of computation of taxable and income tax payable.
                                                Taxable Income                                Rate
                                                Rs 7,50.000 to 9,00.000                   7.5%
                                                Rs 9,00,000 to 10,50,000                9.0%
                                                Rs 40,50,000 to Rs 12.00,000        10.0%
2.Explain the following terms with reference to Income Tax Ordinance 2001.
i)                    Capital Assets                                  ii)            Dividend
ii)                   Speculation Business                    iv)           Royalty
3.What do you know about AGRICULTURAL INCOME is it taxable in Pakistan ?Given examples
4.Discuss the powers and Functions of  ‘’COMMISSSIONER OF INCOME TAX’’
5.What are the various Types of LOSSES ‘’ How can these ‘’ Losses be set off and carried forward’’
6.Explain specifically at least TEN ALLOWABLE DEDUCTIONS under the head of INCOME FROM BUSSINESS OR PROFESSION UNDER SECTION 20 of  INCOME TAX ORDINANCE 2001
7.a)  What does the word ‘’ASSESSMENT’’ signifies?
b)               Write short note on following
i) Provisional Assessment                                                ii) Return of Income as Assessment
iii) Amendment in Assessment
8.Define and explain the following terms with reference to Tax Act 1990.
i)                    Exempt Supply                ii)            Output Tax
Iii           Whole Saler                        iv             Goods
9.Mr Nabeel is a wholesaler of LCD Data regarding his business for the month of August 2012 is as follows.
i)                    50LCD’s purchased from a registered manufacturer @ Rs 13.000 per LCD
ii)                   45 LCD ‘s were sold to registered person R.s 15,000 per LCD
iii)                 One Kept (LCD for personal use (free sample)
iv)                 One LCD donated to recognized educational institution.
v)                  3 LCD ‘s were sold to non- registered person @ Rs 15,000 per LCD.
                  Required Compute the amount of Sales tax payable.