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    mjacobson86's Avatar
    mjacobson86 Posts: 20, Reputation: 1
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    #1

    Feb 11, 2009, 10:34 AM
    Adjustment entry
    For this adjustment: Earned but unbilled fees at August 31 were $1,475.

    Is that telling you what the final accounts receivable should be or what they should be reduced by?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 11, 2009, 05:14 PM

    This is telling you that you provided a service, but you have not billed your customer yet.

    What is the journal entry when you bill a customer for work that has been done?

    This is the adjusting entry you need to do.
    mjacobson86's Avatar
    mjacobson86 Posts: 20, Reputation: 1
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    #3

    Feb 11, 2009, 07:31 PM

    dr. a/r
    Cr. Revenue
    mjacobson86's Avatar
    mjacobson86 Posts: 20, Reputation: 1
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    #4

    Feb 11, 2009, 07:32 PM
    What is the adjustment for:

    Equipment (2700) is depreciated over 5 years, using the straight line method.
    Cynthia514's Avatar
    Cynthia514 Posts: 37, Reputation: 1
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    #5

    Feb 12, 2009, 12:43 PM
    Quote Originally Posted by mjacobson86 View Post
    what is the adjustment for:

    Equipment (2700) is depreciated over 5 years, using the straight line method.
    it depends you want to calculate the depreciation for how many months or years.
    For one year, the depreciation expense will be (your asset origianal cost - residual value) / useful life. For month, divide the annual depreciation by 12 then multiply by the number of month you want to recognize the depreciation expense.
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