Ask Experts Questions for FREE Help !
Ask
    ed0623's Avatar
    ed0623 Posts: 9, Reputation: 1
    New Member
    		  
    #1

    Aug 5, 2013, 05:39 PM
    The beginning balance of unearned revenue is 120,000. What would be the adjustment?
    One-third of the unearned revenue has been earned at the year end.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Aug 5, 2013, 05:51 PM
    Take the amount in unearned revenue and divide it by 3 to get your adjusting entry amount. Now your accounts will be Unearned Revenue and Revenues for the adjusting entry amount calculated.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

July 31: The balance of the unearned revenue account relates to the contract between [ 1 Answers ]

July 31: The balance of the unearned revenue account relates to the contract between PS Music and WHBD, described in the July 3, 2012 transaction, which included the following: "On behalf of PS Music, Pat signed a contract with a local radio station, WHBD, to provide guest spots for the next three...

Where does this come from Unearned Revenue in adjustment? [ 1 Answers ]

The trial balance columns of the worksheet for Briscoe Company at June 30, 2008, are as follows. BRISCOE COMPANY Worksheet For the Month Ended June 30, 2008 Trail Balance Account Titles ...

Unearned revenue amounted to $130 after adjustment on march 31 [ 1 Answers ]

Unearned revenue amounted to $130 after adjustment on march 31

View more questions Search