# Given below are account balances for Charlie Company:

Hello, if you could please explain how to solve these problems.
1.Given below are account balances for Charlie Company:
Gross sales, \$92,000
Sales returns and allowances, \$5,000
Selling expenses, \$12,000
Cost of goods sold, \$48,000
Interest expense, \$3,000
How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example – enter 46% as .46)
2.Alpha Company provided the following data concerning its income statement: sales, \$990,000; purchases, \$401,000; beginning inventory, \$275,000; ending inventory, \$287,000; operating expenses, \$108,000; freight-in, \$5,000; sales discounts, \$21,000; purchases discounts, \$15,000; sales returns & allowances, \$113,000; and purchases returns & allowances, \$38,000. The data provides the basis for preparation of an income statement. How much is net income?
3.Annapolis Company’s bank statement indicated an ending cash balance of \$9,940. Alpha’s accountant discovered that outstanding checks amounted to \$515 and deposits in transit were \$1,080. Additionally, the bank statement showed service charges of \$25. What is the correct adjusted ending cash balance?
4.Baltimore Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of:
Dollar Value
Age of Account
Estimated Collectible
< 30 days old
99%
30 to 60 days old
61 to 120 days old
> 120 days old
The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of \$2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar.
Thank you!!!!

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.