Describe about net sales, Accounting Basics

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Q. Describe about Net sales?

Sales -- amounts received or due for services or goods sold to customers. Gross sales aretotal sales before any returns or adjustments. Net sales are after accounting for returns andadjustments.


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Consignment, A of surat consigned goods to b of jaipur

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Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.

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Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned

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The total assets of capp co. are $600, The total assets of Capp Co. are $60...

The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?

Ledger, “Ledger is said to be the principal book entry and the transactions...

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”

Question, What is the implication of applying accounting concepts wrongly

What is the implication of applying accounting concepts wrongly

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