Solution-What was the amount of net sales

What was the amount of net sales

Assignment Help Accounting Basics

Reference no: EM131122687

1. For the fiscal year, sales were $5,280,000, sales discounts were $100,000, sales returns and allowances were $75,000, and the cost of merchandise sold was $3,000,000.

a. What was the amount of net sales?

b. What was the amount of gross profit?

Reference no: EM131122687

Questions Cloud

Application on pulmonary function testing : Reflect on COPD diagnosis, management, and prevention strategies suggested in the guidelines. Consider how to implement these strategies in a clinical setting.

What will it cost to produce and sell a pair of pedal : What will it cost to produce and sell a pair of Pedal Pushers? What price will Phil Young have to charge for a pair of Pedal Pushers if he wants a "markup" of 50 percent on each sale? At what price would retailers have to sell a pair of Pedal Pushers..

How you initiate your assignment with department managers : How would you initiate your assignment with Avi and the department managers? Develop a list of questions you would ask each manager.

Completing this week practicum experience : After completing this week's Practicum Experience, reflect on a patient with a known history of a cardiovascular disorder such as a blood clot or arrhythmia. Describe the patient's personal and medical history, drug therapy and treatments, and fol..

What was the amount of net sales : For the fiscal year, sales were $5,280,000, sales discounts were $100,000, sales returns and allowances were $75,000, and the cost of merchandise sold was $3,000,000.

Describe a situation you have been in where you believe : Describe a situation you have been in (or are familiar with) where you believe this phenomenon occurred. How did you feel, and how did you respond or not respond? Based on the readings, what main forces guided your response of lack thereof?

What type of financial capital is needed : Determine the amount of financial capital that Phil Young will need during the six months it will take to develop and test-market the Pedal Pusher. What type of financial capital is needed? What are the likely sources of that capital for Phil Young?

Identify the errors in the following schedule of cost : Identify the errors in the following schedule of cost of merchandise sold for the current year ended July 31,2010:

How do you think they should be implemented : What should Sabina do about reorganizing the work environment? Should any layout changes be made and how do you think they should be implemented???

User Account

All Pages

What was the amount of net sales

Reference no: EM131122687

Reference no: EM131122687

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT