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No. They are both assets. "Accounts Receivable" represents money owed to the business by their credit customers. "Prepaid expenses" represents money spent on goods and services that have not yet been received. Some examples of prepaid expenses are insurance, rent, and legal fees.
Unearned Fees appear on the
Unearned fee and unearned revenue is that amount which is received from client in advance but actual services are not provided yet to client.
These are fees received but not yet earned, such as professional fees from clients. Unearned fees is classified as a current liability on a company's balance sheet, assuming that it will be credited within the normal accounting cycle.
yes
No. They are both assets. "Accounts Receivable" represents money owed to the business by their credit customers. "Prepaid expenses" represents money spent on goods and services that have not yet been received. Some examples of prepaid expenses are insurance, rent, and legal fees.
Unearned Fees appear on the
Tuition and fees
can we take personal expenses ( example my children school fees,hospital fees my house construction expenses )in the proprietorship concern
yes
Unearned fee and unearned revenue is that amount which is received from client in advance but actual services are not provided yet to client.
If a taxpayer wants to deduct the legal fees of guardianship, then part of these legal fees will need to have to do with the taxpayer trying to collect money for the guardianship. For example, if the guardian receives any child support or other unearned income from the guardianship, separate tax papers need to be filed.
These are fees received but not yet earned, such as professional fees from clients. Unearned fees is classified as a current liability on a company's balance sheet, assuming that it will be credited within the normal accounting cycle.
yes
One is a liability and the other an asset.
It depends
Tuition and fees