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    lbg0023's Avatar
    lbg0023 Posts: 1, Reputation: 1
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    #1

    Jun 3, 2012, 07:21 PM
    Adjustment of unearned fees
    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.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    Jun 3, 2012, 11:08 PM
    Quote Originally Posted by lbg0023 View Post
    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.
    It should be apparent that the adjustment needed is that which will reduce the balance to $14650
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