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-   -   The beginning balance of unearned revenue is 120,000. What would be the adjustment? (https://www.askmehelpdesk.com/showthread.php?t=761455)

  • Aug 5, 2013, 05:39 PM
    ed0623
    The beginning balance of unearned revenue is 120,000. What would be the adjustment?
    One-third of the unearned revenue has been earned at the year end.
  • Aug 5, 2013, 05:51 PM
    pready
    Take the amount in unearned revenue and divide it by 3 to get your adjusting entry amount. Now your accounts will be Unearned Revenue and Revenues for the adjusting entry amount calculated.

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