From the following data, compute net sales. Sales $537,000 Sales returns and allowances 6,315 Sales discounts...
From the following data, compute net sales.
| Sales | $537,000 |
| Sales returns and allowances | 6,315 |
| Sales discounts | 715 |
Net sales: $
Homework Answers
Net Sales = Sales - Sales returns and allowances - Sales discounts
= 537,000 - 6315 - 715
= 529,970
Comment if you face any issues
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From the following data, compute net sales.
Sales
$537,000
Sales returns and allowances
6,315
Sales discounts...
Sales Discounts as well as Sales Returns and Allowances are deducted from Sales to determine Select...
Sales Discounts as well as Sales Returns and Allowances are deducted from Sales to determine Select one: a. Net sales b. Gross profit c. Net purchases d. Cost of goods sold
Sales returns and allowances and sales discounts, are both contra revenue accounts with debit balances that...
Sales returns and allowances and sales discounts, are both contra revenue accounts with debit balances that are deducted from sales revenue to arrive at net sales and cost of goods could also be deducted from sales revenue, but sales revenue is not deducted from itself. All of the following appear as deductions from sales revenue on an income statement for merchandisers except Sales Revenue. O Sales Returns and Allowances. Cost of Goods Sold. Sales Discounts.
11) Net sales revenue is calculated by A) subtracting sales discounts and estimated sales returns and...
11) Net sales revenue is calculated by A) subtracting sales discounts and estimated sales returns and allowances from sales revenue B) subtracting cost of goods sold from sales revenue C) subtracting sales discounts and selling expenses from sales revenue D) adding sales discounts and sales returns and allowances to sales revenue
Sales, gross Sales discounts $ 265,000 Sales returns and allowances 5,300 Sales salaries expense $ 16,000...
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4-Financial information is presented below: Operating expenses $ 41000 Sales returns and allowances 5000 Sales discounts...
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Sales Sales discounts Sales returns and allowances Cost of goods sold Carrier Lennox Trane York $...
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A company reports the following sales-related information. Sales, gross $ 240,000 Sales returns and allowances $...
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16 Cushman Company had $810,000 in sales, sales discounts of $12,150, sales returns and allowances of...
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Sales returns and allowances and sales discounts, are both contra revenue accounts with debit balances that are deducted from sales revenue to arrive at net sales and cost of goods could also be deducted from sales revenue, but sales revenue is not deducted from itself. All of the following appear as deductions from sales revenue on an income statement for merchandisers except Sales Revenue. O Sales Returns and Allowances. Cost of Goods Sold. Sales Discounts.
11) Net sales revenue is calculated by A) subtracting sales discounts and estimated sales returns and allowances from sales revenue B) subtracting cost of goods sold from sales revenue C) subtracting sales discounts and selling expenses from sales revenue D) adding sales discounts and sales returns and allowances to sales revenue
Sales, gross Sales discounts $ 265,000 Sales returns and allowances 5,300 Sales salaries expense $ 16,000 11,300 Prepare the net sales portion only of this company's multiple-step income statement.
Sales Sales discounts Sales returns and allowances Cost of goods sold $153,000 4,000 17,000 89,364 $610,000 13,500 6,000 368,472 $41,000 600 4,200 27,874 $260,000 3,500 1,000 149,723 Compute net sales, gross profit, and the gross margin ratio for each separate case a through d. (Round your gross margin ratio to 1 decimal place; l.e; 0.2367 should be entered as 23.7%.) Net sales Gross profit Gross margin ratio
Sales Sales discounts Sales returns and allowances Cost of goods sold Carrier Lennox Trane York $ 161,000 $ 770,000 $ 49,000 $ 268,000 4,000 17,500 600 4,589 19,800 6,000 5,000 1,500 92,322 471,788 33,418 138,476 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e.; 0.2367 should be entered as 23.7%.) Carrier Lennox Trane York Net sales Gross profit Gross margin ratio
Sales Sales discounts Sales returns and allowances Cost of goods sold $169,000 4,000 15,000 99,150 $930,000 21,500 6,000 557,745 $57,000 600 5,800 38,962 $276,000 5,300 2,200 129,417 Compute net sales, gross profit, and the gross margin ratio for each separate case a through d. (Round your gross margin ratio to 1 decimal place; I.e.; 0.2367 should be entered as 23.7%.) (d) Net sales Gross profit Gross margin ratio
16 Cushman Company had $810,000 in sales, sales discounts of $12,150, sales returns and allowances of $18,225, cost of goods sold of $384750 and $278,640 in operating expenses. Net income equals: 01.25.00 Multiple Choice $176 985 $779,625 $394,875 $116.235 $146.610 ME < Prev 16 of 37 III Neb >
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