Guitar Universe

Guitar Universe: Final Exam | | | | | | | | | | | | | | |

Comprehensive Problem. #2 | | | | | | | | | | | | | | |

Adjusting Entries (show computations). | DR. | Cr. | | | | | | | | | | | | |

Bank Service Charges | 25 | | | | | | | | | | | | | |

Accounts Recievable | 2,500 | | | | | | | | | | | | | |

Cash | | 2,525 | | | | | | | | | | | | |

To record NSF and bank service charge for dec. | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

Marketable Securities | 2,500 | | | | | | | | | | | | | |

Unrealized holding gain on investment | | 2,500 | | | | | | | | | | | | |

To adjust the balance sheet valuation of marketable | | | | | | | | | | | | | | |

securities from 25,000 to 27,500 | | | | | | | | | | | | | | |

27,500-25,000 | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

Uncollectable Accounts Expense | 3,500 | | | | | | | | | | | | | |

Allowance for Doubtful Account | | 3,500 | | | | | | | | | | | | |

To write off the account receivable | | | | | | | | | | | | | | |

8,500-5000 change in allowance for doubtful accnt | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

Cost of Goods Sold Account | 1350 | | | | | | | | | | | | | |

Inventory | | 1350 | | | | | | | | | | | | |

To record the entry on the loss of several guitars | | | | | | | | | | | | | | |

non material loss | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

| | | | | | | | | | | | | | |

Office Supplies Expense | 300 | | | | | | | | | | | | | |

Office Supplies | | 300 | |...