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5 November, 08:41

Lewis Inc. had the following information taken from various accounts for 2015: Sales Discounts $41,000 Unearned Revenue $32,000 Total Sales $459,000 Purchase Discounts $15,000 Sales Allowances $35,000 Accounts Receivable $205,000 What was Lewis Inc.'s net revenues in 2015?

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  1. 5 November, 09:08
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    Th answer is: net revenue = $383,000

    Explanation:

    Lewis Inc.'s net revenues can be calculated using the following formula:

    net revenue = total sales - sales discounts - sales allowances

    net revenue = $459,000 - $41,000 - $35,000

    net revenue = $383,000

    Accounts receivables, unearned revenues and purchase discounts are not considered in the calculation of net revenue.
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