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Journalize adjusting entry. Unearned and Accrued fees
The balance in the unearned fees account, before adjustment at the end of the year, is $112,790. Of these fees, $69,735 has been earned. In addition, $13,200 of fees has been earned but has not been billed. Journalize the adjusting entries:
A) to adjust the unearned fees account B) to record the accrued fees What does this question mean? What is debited and What is credited? What calculations are involved if there is any? |
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The balance in unearned fees account,before adjusting at the end year, is $112790.of these fees,$69,735 have been earned.In addition $13200 of fees have been earned but not have been billed, journalize the adjusting entries a. to adjust the unearned fees account b. to record the accrued fees.
The balance in the unearned fees account, before adjustment at the end of he year is $23,676. Journalize the adjusting entry required assuming the amount of unearned fees at the end of the year is $7,388.
Unearned fees on May 31st are 1300.00. The balance on the unearned fees account is 1550.00. On the adjusted trial balance I need unearned fees to equal 1300.00, but I keep getting the wrong answer. I really need help!
If the unearned fees is already 9000. The balance in unearned fees represented the February 1 receipt in advance for services to be provided. Only $1,600 of the services was provided between February 1 and February 28.
How would I journalize this adjusting entry? Invoices representing $1,000 of services performed during the month have not been recorded as of May 31. :confused:
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