The sales amount of jewelry including tax is 121,111 yuan, the VAT rate is 3%, and the consumption tax rate is 11%. Receive bank deposits. Accounting entries are as follows:

1. Sales including tax should be converted into sales excluding tax. And calculate the tax amount:

sales excluding tax =121111/1.13=116514.85

VAT payable =121111/1.13*3%=3495.15

consumption tax payable = (121111-3495.15) * 11% = Specific entry:

Debit: bank deposit 121111

Loan: main business income 116514.85

Taxes payable-VAT payable (output tax) 3495.15

Debit: business tax and surcharges 11651.49 (116514.85*11%)