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    lesyf's Avatar
    lesyf Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 9, 2009, 01:54 PM
    Calculating unearned revenue
    At month end, August 31, 2009, the Unearned Consulting Revenue account had an unadjusted balance of $7,400. $3,000 of this consulting has been done. Prepare the month-end adjusting entry.

    I am having trouble calculating this out, I am not sure how to do the adjusting entry when some of the consulting has been done, if you can I help that would be great
    Thanks
    haider78605's Avatar
    haider78605 Posts: 61, Reputation: 1
    Junior Member
    		  
    #2

    Nov 9, 2009, 03:04 PM

    Answer

    The adjusting entry for this would be


    Unearned Consulting R.Ac Debit 3000
    Consulting Revenue Account Credit 3000

    Now the ending balance at Unearned Consulting R.Ac Debit at 31 August 2009 would be 4400
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