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Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
Is deferred revenue a current liability?
Yes, deferred revenue is a current liability. It means that the revenue has yet to be earned, therefore it is still owed to the business or company.
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
Is unearned revenue a liability?
yes
Is unearned revenue an asset or liablility?
Unearned revenue is liability until it is earned and shown under liability side of balance sheet.
Is revenue an asset liability or owner's equity?
sales revenue is owner's equity
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
When is unearned revenue recognized in the financial statements?
What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements Is a church a company that could have unearned revenue?
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
What is Unearned revenue reported as in a financial statements?
A liability.
