of tion Chapter 3 Exploration 3.2 - Unearned Revenues - Adjusting Entries (02) Goal: Learn to...
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of tion Chapter 3 Exploration 3.2 - Unearned Revenues - Adjusting Entries (02) Goal: Learn to apply adjustments to unearned revenues. Instructions: A description of an adjustment to an unearned revenue will be given. You must journalize the adjustment. Date Column: Enter the date in the form MMM DD, e.g. January 3 would be entered as Jan 3 Account/Explanation Column: Enter the account you want to debit on the top line. Enter the account you want to credit on the bottom line. Correct Spelling is vital! If there is more than one debit or credit, enter debit and credit accounts in alphabetical order. F Column: No entry required during the journalizing process. Debit and Credit Columns: Enter the debit and credit amounts. If the debit or credit is 0, enter O in the answer box. Do not put the $ sign in your answers. Do not put the, indicating thousands in your answers. At month end, April 30, 2023, the Unearned Consulting Revenue account had an unadjusted balance of $7,000. The customer paid this amount in advance. $4,300 of this work had been performed as of April 30, 2023. Prepare the month-end adjusting entry. Round your final amounts to the nearest whole dollar. CaliVE 4 General Journal Date Account/Explanation LL F Debit Page GJ1 Credit To adjust the unearned consulting revenue account to reflect consulting revenue earned. of tion Chapter 3 Exploration 3.2 - Unearned Revenues - Adjusting Entries (02) Goal: Learn to apply adjustments to unearned revenues. Instructions: A description of an adjustment to an unearned revenue will be given. You must journalize the adjustment. Date Column: Enter the date in the form MMM DD, e.g. January 3 would be entered as Jan 3 Account/Explanation Column: Enter the account you want to debit on the top line. Enter the account you want to credit on the bottom line. Correct Spelling is vital! If there is more than one debit or credit, enter debit and credit accounts in alphabetical order. F Column: No entry required during the journalizing process. Debit and Credit Columns: Enter the debit and credit amounts. If the debit or credit is 0, enter O in the answer box. Do not put the $ sign in your answers. Do not put the, indicating thousands in your answers. At month end, April 30, 2023, the Unearned Consulting Revenue account had an unadjusted balance of $7,000. The customer paid this amount in advance. $4,300 of this work had been performed as of April 30, 2023. Prepare the month-end adjusting entry. Round your final amounts to the nearest whole dollar. CaliVE 4 General Journal Date Account/Explanation LL F Debit Page GJ1 Credit To adjust the unearned consulting revenue account to reflect consulting revenue earned.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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