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I'm not sure I fully understand your question. Revenue would never be on a balance sheet, it is an income statement account.
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∙ 9y ago
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What appears in the Balance Sheet columns of the work sheet?
service revenue
Would service revenue appear on the balance sheet?
Service revenue will appear on the income statement as a revenue account. It will indirectly effect the balance sheet in that it will be accompanied by an increase in either cash, accounts receivable, unbilled revenue (assets) or a decrease in unearned revenue (liability).
Where does unearned service revenue go on a multiple step income statement?
unearned service revenue is on the balance sheet not the income statement so the answer is nowhere. service revenue is on the income statement under revenues.
Is admission revenue credit or debit in balance sheet?
Credit side of balance sheet.....Revenue is an Owners Equity account therefore has a Credit Balance.
Where does unearned service revenue goes in an income statment?
It doesn't. The account appears on the balance sheet; the unearned revenue is presented as part of current liabilities.
What appears in the Balance Sheet columns of the work sheet?
service revenue
Would service revenue appear on the balance sheet?
Service revenue will appear on the income statement as a revenue account. It will indirectly effect the balance sheet in that it will be accompanied by an increase in either cash, accounts receivable, unbilled revenue (assets) or a decrease in unearned revenue (liability).
Where does unearned service revenue go on a multiple step income statement?
unearned service revenue is on the balance sheet not the income statement so the answer is nowhere. service revenue is on the income statement under revenues.
Is admission revenue credit or debit in balance sheet?
Credit side of balance sheet.....Revenue is an Owners Equity account therefore has a Credit Balance.
What account do earned revenue go in on a balance sheet?
Earned revenue is part of income statement and it is not shown under balance sheet.
Where does unearned service revenue goes in an income statment?
It doesn't. The account appears on the balance sheet; the unearned revenue is presented as part of current liabilities.
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 type of revenue is reported in the other income section of the multiple step income statement?
unearned service revenue is on the balance sheet not the income statement so the answer is nowhere. service revenue is on the income statement under revenues. unearned service revenue is on the balance sheet not the income statement so the answer is nowhere. service revenue is on the income statement under revenues Looking after a customer, particularly a customer who places allot of business with you so that you keep and grow that business and the relationship you have with the customer (to stop them going
How do we prepare a balance sheet for a service business?
A balance sheet will work pretty much the same way. The balance sheet will list all assets the company retains, such as account receivable, cash, etc all liabilities such as notes payable, etc. The major difference is the type of revenue or income. Usually listed as Service Revenue, although service revenue will be closed at the end of the month or whatever period and listed in retained earnings. Even though it is a "service" business its operations is still similar to that of a merchandising business, however, such accounts as cost of goods sold are not used.
Is revenue a balance sheet account?
Revenue is not part of balance sheet rather it is part of income statement as it is the amount earned by selling goods or services.
What is the accounting double entry when service is provided for a prepaid account?
When your customers pays you in advance, you'd: Dr Cash xxx Cr Unearned service revenue xxx (liability item in balance sheet) When you've provided the service, you'd Dr Unearned service revenue xxx Cr Service revenue xxx (revenue item in income statement)
Does rent revenue go on a balance sheet or income statement?
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
