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    SOSMOM's Avatar
    SOSMOM Posts: 10, Reputation: 1
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    #1

    Feb 25, 2007, 10:20 PM
    Unearned Service Revenue STill Unearned.
    If the Trial balance says Unearned Service Revenue Cr. 12,560

    The adjusting entry says Unearned Service Revenue still unearned, $800, how do I enter this?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Feb 28, 2007, 01:22 AM
    So right now, your unearned service revenue account says you have 12,560 in it.

    But, you should only have 800 in it.

    Therefore, the account is overstated by 12,560-800 = $11,760

    Therefore, you must REMOVE 11,760 from the account.

    Dr. Unearned Service Revenue 11,760
    Cr. Revenue 11,760

    When the unearned service revenue is decreased, it is because the amount has been earned; therefore you can recognize it as revenue.
    SOSMOM's Avatar
    SOSMOM Posts: 10, Reputation: 1
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    #3

    Feb 28, 2007, 02:28 PM
    Ur awesome! Will you marry me? j/k
    lolita marshall's Avatar
    lolita marshall Posts: 2, Reputation: 1
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    #4

    May 30, 2012, 04:00 AM
    Service revenue still unearned at end of period 1166 trial balance have unearned revenue a debit 2970
    lolita marshall's Avatar
    lolita marshall Posts: 2, Reputation: 1
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    #5

    May 30, 2012, 04:03 AM
    Service revenue still unearned at the end of period 1166 trail balance is debit unearned revenue 2970
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #6

    May 30, 2012, 09:55 AM
    You have to know what your Unearned Revenue account balance is or there has to be a way to calculate the account balance. Read your problem and it should contain the information needed to solve it or it will give you the information needed to calculate the information needed to solve the problem.

    When you have the account balance then you can follow CaptainForest's post to solve your problem.

    Your debit of 2970 will reduce your Unearned Revenue account balance because Unearned Revenue is a liability and has a normal credit balance.

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