Question: At the end of the current year 19 900 of fees

At the end of the current year, $19,900 of fees have been earned but not billed to clients.
a. What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
b. If the cash basis rather than the accrual basis had been used, would an adjustment have been necessary? Explain.

Sale on SolutionInn
  • CreatedFebruary 04, 2014
  • Files Included
Post your question