The balance in the unearned fees account, before adjustment at the end of the year, is $18,000.
Question:
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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Unearned Fee...View the full answer
Answered By
Jonas Araujo
I have recently received the degree of PhD. In Physics by the Universidade Federal do Maranhão after spending a term in Durham University, as I have been awarded a scholarship from a Brazilian mobility program. During my PhD. I have performed research mainly in Theoretical Physics and published works in distinguished Journals (check my ORCID: https://orcid.org/0000-0002-4324-1184).
During my BSc. I have been awarded a scholarship to study for a year in the University of Evansville, where I have worked in detection-analysis of photon correlations in the the Photonics Laboratory. There I was a tutor in Electromagnetism, Classical Mechanics and Calculus for most of that year (2012).
I am very dedicated, honest and a fast learner, but most of all, I value a job well done.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The balance in the unearned fees account, before adjustment at the end of the year, is $38,375. a. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is...
-
The balance in the unearned fees account, before adjustment at the end of the year, is $23,676. Journalize the adjusting entry required assuming the amount of unearned fees at the end of the year is...
-
The balance in the unearned fees account, before adjustment at the end of the year, is $49,500. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is...
-
Maynard Appliances is holding a Fifty- Fifty Sale. Major appliances may be purchased for nothing down and no interest to pay if the customer pays 50% of the purchase price in six months and the...
-
Why did ecologists want to reintroduce wolves to Yellowstone Park? What goals did they have, and have their goals been achieved?
-
What types of business activity are likely to have high operating gearing?
-
Vision Systems Inc. was organized on May 31, 2002. Rrojected selling and administrative expenses for each of the first three months of operations are as follows: Depreciation, insurance, and property...
-
The internal control procedures in Naperville Company provide that: 1. Employees who have physical custody of assets do not have access to the accounting records. 2. Each month, the assets on hand...
-
4. You are considering purchasing a new wood saw that costs Rp 126,500,000. The saw will generate revenues of Rp 48,000,000 per year for five years. The cost of materials and labor needed to generate...
-
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and...
-
The balance in the supplies account, before adjustment at the end of the year, is $5,175. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $615.
-
For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance...
-
Determine the pressure difference between water in the left-hand bulb and the oil in the right-hand bulb. The system is shown in Figure P1.10. FIGURE P1.10 Water 1 m 0.2 m Oil 0.3 m -Mercury
-
Find a vector orthogonal to (0,1,3) and (-2,2,0). Choose the correct answer below. OA. (-6,6,2) OB. (6,6,2) OC. (-6, -6,2) O D. (6, -6, -2)
-
Students will keep an electronic journal outlining ten ideas for a new business or expansion of an existing business. Idea journaling is where students use strategies to locate, identify, and...
-
Q1 Seaside Company uses the weighted-average method in its process costing system. The Sanding Department started the month with 8,000 units in its beginning work-in-process inventory that were 70%...
-
Solve the inequality. (Enter your answer using interval notation.) 0 x+2x-2
-
Briefly discuss the major roles and functions of Financial Management to the organization. How this roles and functions can be related to the good financial management practice.
-
The following data pertain to Abel & Associates, a consulting company. Revenues ......................$1,600,450 Gross margin .....................450,000 Profit before taxes ..............275,400...
-
Horse serum containing specific antibody to snake venom has been a successful approach to treating snakebite in humans. How do you think this anti-venom could be generated? What are some advantages...
-
What is a biological asset?
-
What is the most significant IFRS departure from U.S. GAAP for valuing property, plant, and equipment?
-
What is a share premium?
-
Following information about an existing bond is available: Principal Time to maturity ( in years ) Annual coupon ( $ ) Price ( $ ) 1 0 0 1 0 9 6 Additionally, assume that the zero rate for two years...
-
Michael received a Schedule K-1 from Omega Partnership reflecting a $25,000 share of ordinary income and an $18,500 cash distribution. As a result of his ownership of Omega, Michael's taxable income...
-
FINANCE QUESTION : Small town Diners has a policy of treating dividends as a passive residual. It forecasts that net earnings after taxes in the coming year will be $500,000. The firm has earned the...
Study smarter with the SolutionInn App