Table of contents

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1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

4. Merchandising Operations

Net Sales

Financial Accounting

4. Merchandising Operations

Net Sales

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Multiple Choice

If Natalie's company had total sales of $10,000 in October, sales returns and allowances of $500, and sales discounts of $200, what is Natalie's net sales for the month of October?

$9,300

$9,800

$10,000

$9,500

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Verified step by step guidance

Start by understanding the formula for Net Sales: Net Sales = Total Sales - Sales Returns and Allowances - Sales Discounts.

Identify the values provided in the problem: Total Sales = $10,000, Sales Returns and Allowances = $500, and Sales Discounts = $200.

Substitute the values into the formula: Net Sales = $10,000 - $500 - $200.

Perform the subtraction step-by-step: First subtract Sales Returns and Allowances ($500) from Total Sales ($10,000), then subtract Sales Discounts ($200) from the result.

The final result will give you Natalie's Net Sales for the month of October, which corresponds to one of the provided answer choices.