Unearned revenue is reported in the financial statements as: A、A revenue on the balance sheet. B、A liability on the balance sheet. C、An unearned revenue on the income statement. D、An asset on the balance sheet. E、An operati
"unearned income" "an unearned run" unearned同义词 adj. 不劳而获的;非劳动所得的;不相称的 inappropriate,unsuitable unearned词源中文解释 约于1200年,来自 un-(1)“不”和 earn(v.)的过去分词。记录于1889年的 Unearned income。 unearned词源英文解释 ...
Advance payment transactions to be sacrificed and unearned income as income when the time expires. At the end of these events need to immediately adjust the General Ledger. Similarly, depreciation, cumulative revenues and expenses need to resize the financial period. These entries must be recorded ...
Said differently, unearned revenue is the liability account used to measure how much income the taxpayer has not yet recognized. The cost of deferred revenue The company will record the entries shown in Exhibit 6 to reverse the entries shown in Exhibit 1, which initially record unearned revenue....
A prepaid expense is an expenditure that is paid for in one accounting period, but for which the underlying asset will not be entirely consumed until a future period. Therefore, the prepaid expense must not be shown as an expense in the accounting period in which it is paid but instead it...
Income statement impact:As the company fulfills its obligations, the unearned revenue is gradually recognized as earned revenue on the income statement. This process ensures that revenues are matched with the expenses incurred to generate those revenues, providing a more accurate representation of the ...
However, since you have not yet earned the revenue, unearned revenue is shown as a liability to indicate that you still owe the client your services. Since most prepaid contracts are less than one year long, unearned revenue is generally a current liability. 2. Income statement Unearned rev...
Why is service revenue considered to be a credit in the journal? Explain why are long term liability payments not shown on the income statement. Unearned revenues refer to a what? What is the difference between unearned revenue and deferred revenue?
So, considering this reason, the unearned revenue for which the goods have been delivered or the services have been rendered to the party is considered the liability and will be shown as the liability in the balance sheet of the company until the goods are delivered, or the services are ...
(the "Distribution Agreement"), which isattached hereto as ExhibitA. InfoCure and PracticeWorks have requested our opinion as to the propertreatment ofthe Distribution andcertain of theCorporate Restructuring Transactions for United Statesfederal income tax purposes. Unlessthe contextrequires otherwise,...