Question

Sir what is sales proceed?
please explain in a detailed way, to remove my confusion.
What is basically sales proceed????????
📝

Answer 1

When long-term assets are sold, the amounts received are referred to as the proceeds. If the amount of the proceeds is greater than the book value or carrying value of the long-term asset at the time of the sale, the difference is a gain on the sale.
SALES PROCEEDS are the sum of the service units (products, services) sold by a corporation within a particular period. The sales proceeds are calculated from the quantities sold multiplied by the sales price per unit within a particular period.
Net Sales proceeds is the amount received by the seller after all costs and expenses are deducted from the gross proceeds arising from the sale of an asset.