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Equipment is an asset for business which is usable in business to generate revenue.
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∙ 9y ago
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Is cash considered an asset or revenue?
Revenue
What type of account is equipment?
Equipment is a long term asset account available for business to generate economic revenue.
Would business equipment be considered an asset?
yes.
Is rented equipment considered an asset?
Rented Equipment is not an asset. If there is a refundable security deposit, that amount would be posted as an asset. The rental payments are usually posted to Equipment Rental Expense and no further accounting is necessary.
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 cash considered an asset or revenue?
Revenue
What type of account is equipment?
Equipment is a long term asset account available for business to generate economic revenue.
Would business equipment be considered an asset?
yes.
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.
Is inventory considered an asset?
Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.
Does equipment appear on balance sheet?
Yes equipment is an asset for business which is usable for more than one year for revenue generation that's hwy it is shown in balance sheet under asset side.
Is rented equipment considered an asset?
Rented Equipment is not an asset. If there is a refundable security deposit, that amount would be posted as an asset. The rental payments are usually posted to Equipment Rental Expense and no further accounting is necessary.
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 merchandise inventory considered an asset?
Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.
Is accrued revenue an asset?
no, its a revenue
Is unearned revenue an asset or a liablity?
asset
What is rent paid Asset or revenue?
Revenue
