Question

Which of the following amounts would be used to calculate net revenues for the current year?...

Which of the following amounts would be used to calculate net revenues for the current year?

  • All of the other answer choices are correct.

  • Total sales revenue for the current year.

  • Estimated sales, returns, and allowances that will occur next year as a result of sales transactions in the current year.

  • Actual sales returns, allowances, and discounts for the current year.

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Homework Answers

Answer #1

in order to calculate net revenue for the current year only the actual figures as well as the current year figures are to be used for the calculation.

To calculate net revenue total sales revenue for the current year as well as actual sales return, allowances and discounts for the current year should be taken into consideration to calculate net revenue.

Net revenue = Total sales revenue - Actual sales returns - allowances- discounts.

Estimated sales, returns and allowances for the next year is of no use in order to calculate revenue for the current year.

The four the correct choices are total sales revenue for the current year, actual sales return, allowances and discounts for the current year .

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