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    cruizinchik's Avatar
    cruizinchik Posts: 1, Reputation: 1
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    #1

    Feb 27, 2007, 02:28 PM
    Unearned Revenue Still Unearned
    I have to make an adjusting entry for this:

    Unearned Service Revenue still Unearned, $800

    There is a previous credit balance of 5,300. At first I thought there was no entry, but then when I started to do the income statement the answer I'm suppose to have is not correct with the answer I have. I need help, I've been working on this question since yesterday and I do not get it! Any help or insight would be greatly appreciated thanks!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Feb 28, 2007, 02:26 AM
    So the balance is 5,300.

    They are telling you it should only be 800.

    Therefore, you need to decrease the account by 5,300-800 = 4,500

    Dr. Unearned Service Revenue 4,500
    Cr. Service Revenue 4,500
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