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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.
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Deferred revenue is revenue that is?
Deferred.
Are all temporary differences that exist at balance date recognised as deferred tax assets or deferred tax liabilities?
yes - either a deferred tax asset (DTA) or a deferred tax liability (DTL).
Is a long term loan repayable in 6 years a non current asset or non current liability?
It is a loan repayable. Hence it is a liability. As the liability is for more than one year, it is non current liability.
Is subordinated capital notes a current liability or a long term liability?
Long term
Is Cash Credit Loan a current Liability?
no
Is Deferred income a current liability?
no
Is deferred revenue an asset?
Deferred revenue is recognized when cash received in advance for product or service that not delivered or rendered, so it's liability, once service fulfilled or product received Revenue Would be recognized Deferred revenue also Known as unearned revenue
Deferred revenue is revenue that is?
Deferred.
How do you account for subscription sales?
Debit Cash Credit Deferred (or unearned) Revenue - Subscription Sales As the subscriptions are fulfilled - if the total amount of a subscription for 12 (monthly) magazines is 120.00 then each month: Debit Deferred Revenue - Subscription Sales for 10.00 Credit Subscription Sales for 10.00 (Deferred Revenue is a liability account)
Is a three year notes payable classified as a current liability?
Only the portion of it that is due within the next 12 months is current. The balance is a deferred or non-current liability.
What is the meaning of deferred revenue expenditure?
an deferred revenue is known as accounting
Tax treatment of deferred revenue expenditure?
What Did you mean by deferred revenue tax
How is deferred tax liability different from current tax liability?
Current Tax Liability is that tax amount which is actaully payable in current year.Deffered Tax liability is that amount of tax liability which is created due to difference in net income in income statement and income according to tax authorities.
Deferred revenue expenditure?
Deferred expenditure refers to expenses incurred which do not apply to the current accounting period. Instead, they are debited to a 'Deferred expenditure' account in the non-current assets area of your chart of accounts. When they become current, they can then be transferred to the profit and loss account as normal.
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.
Is deferred liability a current liability?
Yes deffered tax liability is created due to difference in taxable income as well as actual income which needs to be adjusted in next fiscal year as it is for only one year that;s why it is current liability.
What are the Journal entries for a sale of subsidiary?
There are several important journal entries for the sale of a subsidiary. These include: Fixed assets, current assets, current liability, deferred tax liability, and goodwill.
