No, it goes on the balance sheet as a liability.
unearned service revenue is on the balance sheet not the income statement so the answer is nowhere. service revenue is on the income statement under revenues.
Not right away. When you record unearned fees or revenue it only hits the balance sheet. Ex: Debit- Cash or AR (Asset Account) Credit- Unearned Revenue (Liability) It is a liability until the revenue is earned in which case you then Debit: Unearned Revenue Credit: Revenue/Sales Account (finally and income statement account!)
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
expenditures and revenue go to income statement while assets, liabilities and capital go to the balance sheet.
INcome Statement
unearned service revenue is on the balance sheet not the income statement so the answer is nowhere. service revenue is on the income statement under revenues.
Not right away. When you record unearned fees or revenue it only hits the balance sheet. Ex: Debit- Cash or AR (Asset Account) Credit- Unearned Revenue (Liability) It is a liability until the revenue is earned in which case you then Debit: Unearned Revenue Credit: Revenue/Sales Account (finally and income statement account!)
Rent revenue appears under the Non-Operating Revenue Section on the income statement.
Other or rent revenue is also revenue which is not from basic operations of business that's why this revenue is shown as other revenue in income statement.
Yes all revenues are part of income statement and interest revenue also that’s why it is shown in income statement as other income.
Dividend revenue is shown as other revenue section of profit and loss section of income statement.
consulting revenue will go to income statement in case if the firms main business is consultancy then sales otherwise will go under other income.
No, the income statement is for revenue and expenses only. Equipment will go on your balance sheet with your assets.
An expense such as rent, utilities, insurance goes on the income statement because it is an expense that occurs to operate the business and it affects the net income of said business. If I have an income of $15,000 and I paid out expenses of $10,000 my net income is $5,000.
expenditures and revenue go to income statement while assets, liabilities and capital go to the balance sheet.
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
Yes merchandise is part of income statement and this is the actual goods sold to earn revenue for specific period of company.