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natali 33 [55]
1 year ago
8

During the month, Cellum, Inc. sold 100 cells at a price of $100 each. Each cell was sold at a 1% sales discount. Cellum had ret

urns of $198 (net of discounts) and incurred bank service charges of $20. Net sales for the month ended equals________.
Business
1 answer:
gavmur [86]1 year ago
6 0

Answer:

Net Sales for the month ended is equal to $9,702.

Explanation:

Sale = 100 x $100 = $10,000

Discount = $10,000 x 1% = $100

Sales Return = $198

Net Sales = Sales Price - Sales Discount - Sales Return

Net Sales = $10,000 - $100 - $198

Net Sales = $9,702

Net Sales for the month ended is equal to $9,702.

$20 is an expense and it is not an contra revenue account. So, it is not considered in net sales calculation.

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The difference between accounting and finance is that accounting relies on past events, while finance has to anticipate to future events. The basic and most important tool in finance is the cash flow budget. A company can have huge sales but if it doesn't enough cash to pay its expenses and debts, then it will not function properly.

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Consider the P/E ratios of the following companies: Company A: 7.4 Company B: 11.3 Company C: 14.8 Company D: 9.1 Among these fo
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5 0
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Suppose that a firm's long-run average total costs of producing custom wooden picnic tables is $300 when it produces 10,000 tabl
valina [46]
I think the most appropriate answer would be B.



I hope it helped you!
7 0
2 years ago
Jeff jones earns $1,200 per week. he is married and claims four withholding allowances. the social security rate is 6.2% on $118
myrzilka [38]
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H&amp;M has adopted the inventory management system that delivers less merchandise on a more frequent basis than in traditional
EastWind [94]

Answer:

The correct answer is the option B: Quick response (QR)

Explanation:

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