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The balance in the unearned fees account, before adjustment at the end of the year, is $97,770. Of these fees, $39,750 have been earned. In addition, $24,650 of fees have been earned but have not been billed.
Problem a. Journalize the adjusting entry to adjust the unearned fees account. If an amount box does not require an entry, leave it blank.
Problem b. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.
Would your answer to requirement 1 change if Sprint obtained its long-term credit facility after the balance sheet date? Why?
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Fifteen months later, he sells it to Faye for its fair market value of 39,000. Determine Iva's recognized loss, Joshua's recognized gain or loss, and Faye's adjusted basis for the stock.
prepare the master budget. Begin with the Balance Sheet - 2012; include all operating budgets; include a cash budget; and end with the Balance Sheet - 2013.
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What are the components of a budget? Are the components the same for every organization? Why or why not? Do you personally use a budget
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