Table of contents

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

Given the following sales data, what was the approximate net change in net sales from April 29 to April 30?\[\begin{align}\text{Net Sales on April 29} &= \$12,500 \\\text{Net Sales on April 30} &= \$13,200\end{align}\]A) $700 increaseB) $700 decreaseC) $1,300 increaseD) $1,300 decrease

$1,300 increase

$700 increase

$1,300 decrease

$700 decrease

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Verified step by step guidance

Step 1: Understand the problem. The goal is to calculate the net change in net sales between April 29 and April 30. Net change is determined by subtracting the earlier value (April 29) from the later value (April 30).

Step 2: Write the formula for net change: $ \text{Net Change} = \text{Net Sales on April 30} - \text{Net Sales on April 29} $.

Step 3: Substitute the given values into the formula. From the problem, $ \text{Net Sales on April 29} = \$12,500 $ and $ \text{Net Sales on April 30} = \$13,200 $.

Step 4: Perform the subtraction: $ \text{Net Change} = \$13,200 - \$12,500 $. This will give the numerical value of the net change.

Step 5: Interpret the result. If the net change is positive, it indicates an increase in net sales. If the net change is negative, it indicates a decrease in net sales.