Lecture Financial accounting (7/e): Chapter 6 - Robert Libby, Patricia A. Libby, Daniel G. Short

Chapter 6 - Reporting and interpreting sales revenue, receivables and cash. After studying this chapter, you should be able to: Apply the revenue principle to determine the accepted time to record sales revenue for typical retailers, wholesalers, manufacturers, and service companies; analyze the impact of credit card sales, sales discounts, and sales returns on the amounts reported as net sales; analyze and interpret the gross profit percentage;...