What are the net sales

Assignment Help Accounting Basics
Reference no: EM132103800

Question - B&B Lumber reports gross sales of $80,000. If sales returns and allowances are $20,000 and sales discounts are $3,000, what are the net sales?

A. $57,000

B. $70,000

C. $83,000

D. $63,000

Reference no: EM132103800

Questions Cloud

What is the net present value of the project : This schedule includes all cash inflows from the project, which will also require an immediate $215,000 cash outlay. What is the net present value of project
How come the share price : a. How come the share price doesn't drop when new debt is taken on?
How are the articles complementary and contradictory : Briefly (!) describe the sample and the research design/type of data. What were the major findings? Was the hypothesis supported?
Discuss the relevant costs you would consider : Pretend you are a manager of Coca-Cola. Discuss the relevant costs you would consider for this decision as well as irrelevant costs and sunk costs
What are the net sales : B&B Lumber reports gross sales of $80,000. If sales returns and allowances are $20,000 and sales discounts are $3,000, what are the net sales
What is the contribution margin per hour : Plentygood Company provides two levels of advising services. What is the contribution margin per hour for the Basic service
Arithmetic and geometric average return : What's the difference between the arithmetic and geometric average return (conceptually, not mathematically), and when is it best to use each?
Identical straight bond : What can you say about the coupon rate on a callable bond compared to an otherwise identical straight bond? Why?
Topic of security markets and finance : When on the topic of security markets and finance, when looking at coupon rate on a callable bond compared to an otherwise

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is best estimate of the company net operating income

Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $69,000

  Determine standard quantity for each of the raw materials

Determine the standard quantity for each of the raw materials needed to produce 20 liters of Chesapeake Chemical Company's new chemical solution and the total.

  Your answers may differ from those offered below due to

ire corporation uses the weighted-average method in its process costing system. data concerning the first processing

  How does management greed influence budget decisions

What does the cost of goods sold and gross profit mean? How much gross profit do I make on each hat? How does management greed influence budget decisions?

  Hardware store decides to use the eoq with shortages model

The manager of a hardware store decides to use the EOQ with shortages model to determine the ordering policy for tape measures. Using economic considerations, the manager determines that she should use an order quantity of Q = 30 and have a maximu..

  Assume overhead is allocated on the basis of direct labor

jefferson company made the following estimates for the 2012 accounting periodoverhead costs 554600direct labor hours

  Goldenlock company manufactures watches and has a jit

goldenlock company manufactures watches and has a jit policy that ending inventory must equal 20 of the next months

  What two requirements would the board of directors have

Prepare any journal entries that National Chocolate Corp. should make on the four dates mentioned in the press release. What two requirements would the board of directors have considered before making the dividend decisions?

  Prepare a march income statement and a balance sheet

Prepare a March income statement and a balance sheet as of the end of March for AniFoods, Inc.

  What is the contribution margin per unit

Carolina Products sells a unique item with the following information available.

  Record the appropriate closing entries on the spreadsheet

After making the 11 adjusting entries in record the appropriate closing entries on the spreadsheet provided using the tab labeled "AJEs and Closing Entries"

  Significant principles of management communications

The Research Paper will be a comprehensive research review of the significant principles of management communications used to successfully achieve organizational objectives. For this assignment of a minimum of eight pages, you need to integrate ma..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd