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What is sales minus sales returns allowances and sales dicount called?
Wiki User
∙ 14y ago
net sales
Wiki User
∙ 14y ago
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What are the plus and minus called in algebra?
They are called plus and minus - no difference there!
A pair of pants with a marked price of 35 has a discount of 20 percent how much is the dicount?
10% = 1/10th so 10% of 35 is 3.5. Therefore 20% = 7. So the price minus the discount is 35 - 7 = 28
What is one hundred minus one minus one minus one minus one minus one minus one minus one minus one minus one?
91
What is a number on the left of a zero on a number line called and what are they labeled with?
They're called negative numbers and they are designated by minus signs.
What are the two numbers subtracted together called?
Minuend minus subtrahend equals difference
Could Sales revenue minus sales returns and allowances and sales discounts equals?
Sales revenue minus sales return and allowances and sales discount equals?
What is net receipts?
Net receipts are defined by the IRS as Gross Profit minus any "returns and allowances". Basically this amounts to cash in minus cash out (as money or extras).
What do you call the number of withholding allowances a worker claims?
The number of withholding allowances a worker claims are called deductions. Gross pay minus deductions is equal to net pay.
What is gross and net receipts?
Gross receipts are the total of all sales with out the deduction of any expenses. Net receipts are the gross receipts minus returns, allowances and discounts.?æ
What is a physical value?
cost of reproducing physical property minus various allowances (especially depreciation)
Which items appear in the income statement column of the worksheet?
List of anything that produced income (e.g. selling goods, performing services, renting property), usually referred to as gross profit. You would list the amounts you actually received (minus discounts, returns, allowances, etc.).
How do you calculate gross sales?
NET SALES: Gross sales minus returns, discounts, and allowances. GROSS SALES: Total invoice value of sales, before deducting for customer discounts, allowances, or return.No. The sales tax is posted as a credit to the Sales Tax Payable Account. So, if you had a $100 sale plus $5 sales tax, you would debit cash $105, credit Sales $100 and credit Sales Tax Payable $5...
What does net sales mean?
The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any discounts allowed. The sales number reported on a company's financial statements is a net sales number, reflecting these deductions.
What are the plus and minus called in algebra?
They are called plus and minus - no difference there!
How can you determine the annual sales of a company by looking at the financial statements?
Generally sales are listed on the Income Statement. The Income Statement is the financial statement that the company uses to find it's Net Profit or Loss. This includes all sales, minus cost of goods sold, allowances for returns, expenses and other accounts that affect the bottom line.
A pair of pants with a marked price of 35 has a discount of 20 percent how much is the dicount?
10% = 1/10th so 10% of 35 is 3.5. Therefore 20% = 7. So the price minus the discount is 35 - 7 = 28
What is debit sales and credit cash in accounting?
A debit on sales, while crediting cash means a cash refund to a customer.A sales transactionFor a service provider, the journal entry for a cash sales transaction has a debit on cash, and a credit on sales. Assuming a sales price of $100:cash 100 (debit)sales 100 (credit)A refundIf for whatever reason the customer requests (and receives) a (partial) refund, sales is reduced. The journal entry of a $30 refund would be the reverse of the above: sales 30 (debit)cash 30 (credit)Alternative journal entryHowever, companies would normally like to keep track of the amount of refunds. Instead of using 'sales' with a refund, a different T-account is used:sales allowances 30 (debit)cash 30 (credit)Sales allowances is a contra-T account to sales, and presented jointly in the income statement (sales minus sales allowances is net sales).For a trading company, there can also be sales returns (physical return of the goods), or a T-account 'sales returns and allowances'
