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Sales is not an asset, liability or equity account rather it is a revenue account and part of income statement rather balance sheet.
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∙ 9y ago
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Is sales asset?
NO
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Are cash sales an asset?
The cash derived from the sales would be the asset. While the term "cash sales" (as opposed to credit sales) may appear on an income statement or a cash flow statement in the plus column, the cash received would appear as an asset on the balance sheet or financial statement.
How do you calculate total asset turnover?
Total asset turnover ratio = total sales / total assets
Is Credit Sales a current Assets?
Yes, it is a current asset.
Is sales asset?
NO
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Is net sales a asset?
no
Is sales reveune a business asset?
No.
What is the profit margin if the asset turnover ratio is 3 time and the return on asset is .1?
Return on Assets = Profit Margin on Sales x Asset Turnover .1 = Profit Margin on Sales x 3 .033 = Profit Margin on Sales
Are cash sales an asset?
The cash derived from the sales would be the asset. While the term "cash sales" (as opposed to credit sales) may appear on an income statement or a cash flow statement in the plus column, the cash received would appear as an asset on the balance sheet or financial statement.
If theasset turnover of a company is 3.2 the total assets are 32000 what were the net sales?
Formula for asset turnover: Asset turnover = net sales / total assets Net sales = 32000 * 3.2 = 102400
What is journal entries when owner withdraw asset on sales price?
general journal
How do you calculate total asset turnover?
Total asset turnover ratio = total sales / total assets
How Du pont system break down return on stockholder's equity?
RoE = (net profits/pretax burden)*(Pretax burden/EBIT)(*EBIT/Sales)*(Sales/Asset)*(Asset/Equity) (ie) Tax Burden*Intrest Burden*Return on Sales*Asset Turn Over*leverage
Is Credit Sales a current Assets?
Yes, it is a current asset.
Is return inward a current asset?
No, return inwards is not a current asset. It is sales returns and comes on the debit side of profit and loss account. otherwise, lessened from the sales on credit side
