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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
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∙ 10y ago
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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
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
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.
Is accrued revenue an asset?
no, its a revenue
Deferred revenue is revenue that is?
Deferred.
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
Would service revenue be considered an asset?
Revenue is not considered an assets. Even from a double entry point of view, revenue would be a credit where as assets are debits so there no even interchangeable. If revenue was kept on the balance sheet as deferred income it would be as a liability.
What is the entry for deferred revenue?
dr Bank/Accounts Receiveable (A) xxx cr Deferred Revenue (L) xxx
What is the journal entry for deferred revenue?
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
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.
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.
Is accrued revenue an asset?
no, its a revenue
Is unearned revenue an asset or a liablity?
asset
Is deferred revenue a debit or credit?
debit
