Do fast and step by step calculation with explanation for general accounting question A company has cash sales of $75,000, credit sales of$320,000, sales returns and allowances of $13,700, andsales discounts of $6,000. Its net sales equal:a. $395,000b. $375,300c. $300,300d. $339,700e. $414,700

Step 1: Define Net SalesNet sales are reported in the income statement of a corporation and are used…

Answered: A company has cash sales of $75,000,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prentice Company had cash sales of $95,275, credit sales of $84,050, sales returns and allowances of $2,100, and sales discounts of $3,875. Prentice's net sales for this period equal: Multiple Choice $175,450 $177,225. $173,350. $179,325. $95,275.
Sunburst Electronics reported the following sales information: Cash sales: $82,750 Credit sales: $65,300 Sales returns and allowances: $9,450 Sales discounts: $5,600 Calculate Sunburst Electronics' net sales for this period. a. $133,000 b. $148,050 c. $138,600 d. $143,650 e. $127,400
Safety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold, $5,500 in selling expenses, $600 in sales returns and allowances, and $7,200 in general expenses. What is Safety Company net sales? a.$35,000 b.$43,200 c.$20,500 d.$33,200
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What is the dollar amount of net sales? for this accounting question
Raven Company had the following account balances Sales Revenue, $100,000; Sales Returns and Allowances, $2,400; Sales Discounts, 2,400; and Bad Debts, $400. Given these balances, the amount of net sales is a.$95,600 b.$95,200 c.$100,000 d.$98,000
Newark Company has provided the following information: • Cash sales, $450,000 Credit sales, $1,350,000. Selling and administrative expenses, $330,000 Sales returns and allowances, $90,000 Gross profit, $1,360,000 Increase in accounts receivable, $55,000 Bad debt expense, $33,000 Sales discounts, $43,000 Net income, $1,030,000 How much are Newark's net sales? $1,800,000. $1,634,000. $1,667,000. $1,745,000.
am. 05.
Prince Company had cash sales of $94,900, credit sales of $83,825, sales returns and allowances of $1,950, and sales discounts of $3,725. Prince's net sales for this period equal:
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If gross sales is P40,000, sales returns and allowances P1,000, sales discounts P400, and delivery expenses P100, the net sales of the business will total

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A company has cash sales of $75,000, credit sales of $320,000, sales returns and allowances of $13,700, and sales discounts of $6,000. Its net sales equal: a. $395,000 b. $375,300 c. $300,300 d. $339,700 e. $414,700