The balance in the unearned fees account, before adjustment at the end of the year, is $27,300. What is the adjustment if the amount of unearned fees at the end of the year is $14,650? Indicate whether each account is increased or decreased and the amount of the increase or decrease.

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Originally Posted by lbg0023

The balance in the unearned fees account, before adjustment at the end of the year, is $27,300. What is the adjustment if the amount of unearned fees at the end of the year is $14,650? Indicate whether each account is increased or decreased and the amount of the increase or decrease.

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It should be apparent that the adjustment needed is that which will reduce the balance to $14650