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Unearned revenue is liability for business as amount is received but services are not provided that's why it is liability until it is earned and shown in balance sheet.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoUnearned revenue is part of balance sheet and shown in current liabilities as these are amounts received but revenue not earned.
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Which section of the income statement does not report net of income taxes or net of income?
Trading account statement does not report net of income taxes or net of income.
What effect does revenue in the income statement have on balance sheet assets?
When you report revenue, you will either increase cash or accounts receivable on the balance sheet depending on whether the cash was collected when earned.
How do you report workers compensation award on a tax form?
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What annual report will the gross profit appear in?
on the income statement
What are different accounting report?
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we dont understand your question. once if you make the statement then you will get net profit.
Must you report casino wins of any amount if collecting unemployment insurance in Michigan?
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Project report on Non tax revenue of Pakistan?
The project report on Non tax revenue of Pakistan categorizes Pakistan as an unstable and middle-income country. The report points out the country's high level of corruption and significant tax evasion.
What financial statement covers a period of time?
The Income Statement and the Statement of Cash Flows. Both report information presented over a period of time.
What is the tax free threshold in the USA?
The tax free amount for a dependent on another taxpayers income tax return filing the 1040 federal income tax return is 950 of unearned income. Some of the different types of unearned income (DID NOT WORK FOR) would be interest, dividends, capital gains, rental income, taxable social security benefits, unemployment compensation, gambling winning and misc income, etc of more than 950 must file an income tax return and report all worldwide income on the 1040 tax return.
How should governments report fiduciary fund balance and income in government-wide statements?
Governments should report fiduciary fund balance in government-wide statements as assets and liabilities held in trust for a specific beneficiary relationship. Fiduciary fund income should be reported as revenue generated from the fiduciary activities.
How do you report someone for not filing mo income tax?
you can send a letter to the Department of Revenue at the address listed on any return. give as many details as you can...name, address, how/where income is earned, etc.
