The balance in the unearned fees account, before adjustment at the end of the year, is $96,000.
Question:
(a) To adjust the unearned fees account and
(b) To record the accrued fees.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
a Unearned Fees 78500 Fees Ear...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting 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 $112, 790. Of these fees, $69,735 have been earned. In addition, $13, 200 of fees have been earned but have not...
-
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...
-
Different theories about early childhood inform approaches to children's learning and development. Early childhood educators draw upon a range of perspectives in their work ..." (EYLF p.12)....
-
Refer to Nebula Limited in EB-1. Assume instead that the company operates in the province of Alberta, where PST is not applicable. In EB-1 May 1 Paid May rent to the landlord for the rental of a...
-
A wrench is dropped by a worker at a construction site. Four seconds later the worker hears it hit the ground below. How high is the worker above the ground? (The velocity of sound is 1100 ft/s, and...
-
3. Given a continuously compounded risk-free rate of 3% annually, at what lease rate will forward prices equal the current commodity price? (Recall the copper example in Section 3.) If the lease rate...
-
The Hamilton Company balance sheet on January 1, 2007 was as follows: The Korbel Company is considering purchasing the Hamilton Company (a privately held company) and discovers the following about...
-
Sharon won the lottery and received $ 1 9 0 0 0 0 . She decided she doesn't need the money yet and invests it at j 4 = 4 % . In 3 years she wants to start taking quarterly payments for 4 years. What...
-
Truck suspensions often have helper springs that engage at high loads. One such arrangement is a leaf spring with a helper coil spring mounted on the axle, as in Figure P7.17. The helper spring...
-
At the end of the current year, $12,300 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. b. If the cash basis rather than...
-
The adjusting entry for accrued fees was omitted at July 31, the end of the current year. Indicate which items will be in error, because of the omission, on (a) The income statement for the current...
-
Given the problem is based on a consumer survey of annual incomes in 100 households. The following table gives the data. What is the probability that a household has an annual income between $10,000...
-
Charlotte, a marketing manager, is worried her firm is doing a poor job of managing the movement of finished products to the final consumer. If she is right, the company should work to improve its Mul
-
Sketch a graph of the piecewise defined function. f(x) = Sx if x 0 x+9 if x>0
-
Complete the information for the following subnetting problem. Your answers should be whole numbers without a period. Example: the correct value for the last octet of 172.20.55.210 would be entered...
-
Olympia Trophy Company wants to purchase a laser engraving machine to use in its production of trophies. The cost of this engraving machine is $69,546.40 and it will yield yearly expected cash flows...
-
Scenario: Envirotruck is a company that produces energy efficient all-wheel-drive and 4-wheel-drive trucks (twice as efficient as their competition's) with ample clearance for construction and rough...
-
Prepare an income statement using standard costing. LO.1
-
Write a program that initializes an array. It inputs a value from the user and searches the number in the array.
-
Describe the importance of a true sale in the context of securitized debt.
-
Endnote Enterprises entered into the following transactions during 2012: 1. Sold merchandise for $52,000 in cash. 2. Purchased a parcel of land. The company paid $12,000 m cash and issued a $30,000...
-
MHT Enterprises entered into the following transactions during 2012: 1. Sold a piece of equipment with a book value of $8,000 for $1,200. 2. Purchased a parcel of land for $13,000. 3. Purchased a...
-
Cash flows from three well-known internet companies are provided below (dollar in millions): RequiredDescribe the similarities and differences of the cash flow policies across the three companies....
-
A proposed $2.5 M investment in new equipment at a 100 MG/y M&Ms factory will save the plant $800,000/y in energy costs. Assuming an annual interest rate of 5%/y (compounded annually), and an...
-
Brief Exercise 10-7 Coronado Company obtained land by issuing 2,250 shares of its $14 par value common stock. The land was recently appraised at $103,240. The common stock is actively traded at $44...
-
The following schedule reconciles Cele Co.'s pretax GAAP income Pretax GAAP income Nondeductible expense for fines Tax deductible depreciation in excess of GAAP depreciation expens Taxable rental...
Study smarter with the SolutionInn App