The balance in the unearned fees account, before adjustment at the end of the year, is $39,295.
Journalize the adjusting entry required if the amount of unearned foes at the end of the year is $15,240. Refer to the Chart of Accounts for exact wording of account titles
Solution:
Account title | Debit | Credit |
Unearned Fees (39295-15240) | $24,055 | |
Fees Earned | $24,055 |
The balance in the unearned fees account, before adjustment at the end of the year, is $39,295.
The balance in the unearned fees account, before adjustment at the end of the year, is $14,140. Required: Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $4,270. Refer to the Chart of Accounts for exact wording of account titles.
Instructions The balance in the unearned fees account, before adjustment at the end of the year, is $18,000. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $3,600. The balance in the prepaid insurance account, before adjustment at the end of the year, is $27,000. The year end is March 31. Journalize the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of...
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The balance in the unearned fees account, before adjustment at the end of the year, is $18,000. Journalize the adjusting entry required if the amount of uneared fees at the end of the year is $3,600. If an amount box does not require an entry, leave it blank.
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