Comprehensive Problem 2

Comprehensive Problem 2 - c. d. e. f. g. h. i....

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c. Uncollectible Accounts Expense 3,500 Allowance for Doubtful Accounts 3,500 d. Cost of Goolds Sold 1,350 Inventory 1,350 e. Office Supplies Expense 300 Office Supplies 300 f. Insurance Expense 600 Prepaid Insurance 600 g. Depreciation Expense 5,000 Accumulated Depreciation 5,000 h. Unearned Customer Deposits 3,200 Sales 3,200 i. Income Tax Expense 6,000 Income Tax Payable 6,000 See next tab for J
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J. GUITAR UNIVERSE, INC. Adusted Trial Balance As of December 31, 2011 Cash $42,475 Marketable securities $27,500 Accounts receivable $127,500 Allowance for doubtful accounts $8,500 Merchandise inventory $248,650 Office supplies $900 Prepaid insurance $6,000 Building and fixtures $1,791,000 Accumulated depreciation $805,000 Land $64,800 Accounts payable $70,000 Unearned customer deposits $4,800 Income taxes payable $81,000 Capital stock $1,000,000 Retained earnings $240,200 Unrealized holding gain on investments $8,500 Sales $1,603,200 Cost of goods sold $959,350 Bank service charges $225 Uncollectibe accounts expense
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Comprehensive Problem 2 - c. d. e. f. g. h. i....

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