Multiple Choice
If a company has net sales of \$100 and expenses of \$30, what is the net income?
6
views
4. Merchandising Operations
Net Sales
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
If a company sells 250 rolls of nickels, and each roll contains 40 nickels, what is the total sales revenue if each nickel is sold for $0.05? (Assume there are no sales returns, allowances, or discounts.)
A
$5000
B
$400
C
$500
D
$500.00
Verified step by step guidance1
Step 1: Determine the total number of nickels sold by multiplying the number of rolls (250) by the number of nickels per roll (40). Use the formula: .
Step 2: Calculate the total sales revenue by multiplying the total number of nickels (from Step 1) by the price per nickel ($0.05). Use the formula: .
Step 3: Ensure there are no adjustments to the revenue, such as sales returns, allowances, or discounts, as stated in the problem.
Step 4: Verify the calculation by reviewing the multiplication steps and ensuring the correct application of the price per nickel.
Step 5: Confirm the final sales revenue matches the correct answer provided in the problem ($500.00).
9:04mWatch next
Master Net Sales:Sales Discounts (Gross Method) with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
