FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company reports the following amounts at the end of the year: Total sales revenue = $ 4 7 0 , 0 0 0 ;

A company reports the following amounts at the end of the year: Total sales revenue =$470,000; cash =$39,000; saleg discounts = $16,000; accounts receivable =$26,000; sales returns =$17,000; operating expenses =$72,000; sales allowances =$32,000.
Compute net revenues.
Net revenue
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Managerial Accounting

Authors: Unknown Author

1st Edition

007723023X, 978-0077230234

More Books

Students also viewed these Accounting questions

Question

★★★★★
Eve Herschel is the owner of Herschels Pizza. Herschels is operated strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the...

Answered: 1 week ago

Question

★★★★★
Measure their cognitive age and the variables that presumably influence it. Do the variables appear to cause cognitive age? Try to ascertain if cognitive age or their chronological age is more...

Answered: 1 week ago

Question

★★★★★
Eclipse Motorcycle Shop sells motorcycles, ATVs, and other related supplies and accessories. During the taking of its physical inventory on December 31, 2012, Eclipse Motorcycle Shop incorrectly...

Answered: 1 week ago

Question

★★★★★
A company reports the following amounts at the end of the year: Total sales revenue = $ 4 7 0 , 0 0 0 ; cash = $ 3 9 , 0 0 0 ; saleg discounts = $ 1 6 , 0 0 0 ; accounts receivable = $ 2 6 , 0 0 0 ;...

Answered: 1 week ago

Question

★★★★★
1. It's hard for smokers to quit. Perhaps prescribing a drug to fight depression will work as well as the usual nicotine patch. Perhaps combining the patch and the drug will work better than either...

Answered: 1 week ago

Question

★★★★★
Different types of Grading?

Answered: 1 week ago

Question

★★★★★
Simpson applies revaluation accounting to plant assets with a carrying value of 1, 600, 000, a useful life of 4 years, and zero salvage value. Depreciation is calculated on a straight line basis. At...

Answered: 1 week ago

Question

★★★★★
Explain the functions of financial management.

Answered: 1 week ago

Question

★★★★★
HOW MANY TOTAL WORLD WAR?

Answered: 1 week ago

Question

★★★★★
Discuss the scope of financial management.

Answered: 1 week ago

Question

★★★★★
2. Now draw another circle. Divide this circle into sections representing the relative amount of time and energy you actually devote to each. Compare the size of the sections in each circle. How does...

Answered: 1 week ago

Question

★★★★★
4. What actions have you taken in the past that have helped you to cope successfully with stressful circumstances? Could any of these approaches be useful to Diane?

Answered: 1 week ago

Question

★★★★★
4. What are the barriers to effective stress management in your life and how can you overcome them? What specific action steps can you take in this regard?

Answered: 1 week ago

Previous Question Next Question