One is a liability and the other an asset.
The Fees Earned account is most commonly used in the services industry, where it contains billings for such services as tax consulting, auditing fees, and general consulting.
Fees receivable would appear on the balance sheet as an asset.
yes
fees earned but not yet received is what account
One is a liability and the other an asset.
The Fees Earned account is most commonly used in the services industry, where it contains billings for such services as tax consulting, auditing fees, and general consulting.
Fees receivable would appear on the balance sheet as an asset.
yes
yes
fees earned but not yet received is what account
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
No Fees Earned is Income Statement item it dont show on Balance sheet
Commisions may appear on a balance sheet as an asset in accounts receivable
No.
Sure, why not. It is earned income.
Condominiums charged assessments to owners, in order to pay for the operation of the community. All condominiums collect assessments. In some communities, there may be optional fees for asset use, such as greens fees or pool fees. These fees are charged for use and may not be charged to owners who do not use the asset.