Financial and Managerial Accounting
Williams Haka Bettner
COMPREHENSIVE PROBLEM 2 (CP2): Guitar Universe, Inc
Guitar Universe, Inc., is a popular source of musical instruments for professional and amateur musicians. The company's accountants make necessary adjusting entries monthly, and they make all closing entries annually. Guitar Universe is growing rapidly and prides itself on having no long-term liabilities.
The company has provided the following trial balance dated December 31, 2009:
AND SO ON
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