Determine about the revenue section, Accounting Basics

Assignment Help:

Determine about the revenue section

Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales - Sales Returns and Allowances and Sales Discounts = Net Sales)

 


Related Discussions:- Determine about the revenue section

Income statement, A company pays rates annually/yearly in advance on 1 Apri...

A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31

Explain about amortize, Q. Explain about Amortize? Amortize -- to charg...

Q. Explain about Amortize? Amortize -- to charge a regular part of an expenditure over a fixed period of time. Forinstance if something cost $100 and is to be amortized over te

Describe about ledger, Q. Describe about ledger? A ledger (general ledg...

Q. Describe about ledger? A ledger (general ledger) is the absolute collection of all the accounts of a company. The ledgers are feasibly in a bound volume in, loose-leaf form

Explain what is brs?, BRS - Bank Reconciliation Statement A bank recon...

BRS - Bank Reconciliation Statement A bank reconciliation statement is a declaration organized by organizations to reconcile the balance of cash at bank in a company's own rec

Discretionary costs?, When buying an owner operated business from a franchi...

When buying an owner operated business from a franchised organization is the previous store manager''s salary discretionary?? can they count that as net income to the new owner op

Explain about stable dollar assumption, Q. Explain about stable dollar assu...

Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st

The major difference in the statement of retained earnings, The major diffe...

The major difference in the statement of retained earnings between a service business and a  Merchandising business is  A. that the retained earnings statement of a merchandisi

Calculate breakeven analysis, Breakeven Analysis - I really need help calcu...

Breakeven Analysis - I really need help calculating this. Our company's breakeven point occurs after the agency consecutively yields two months of positive net income. This a

Best efforts offering, Unlike a rigid commitment providing where a price is...

Unlike a rigid commitment providing where a price is set and a fixed monetary amount is predictable, the underwriter makes its best efforts to sell as many shares as likely at the

Example of work sheet for a merchandising company, Q. Example of work sheet...

Q. Example of work sheet for a merchandising company? Lyons Company is a tiny sporting goods firm. The illustration for Lyons Company focuses on merchandise-related accounts. T

Write Your Message!

Captcha
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