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What is the difference between accrued income and income in advance?
Accrued income is that where income is earned but amount is not received while income in advance is reverse of accrued income where amount is received in advance but services not provided yet.
Income received in Advance?
prepaid income
What is income received in advance?
Income received in advance means that amount form customer is received in advance with promise of goods delivery at some future time.
What are examples of income received in advance?
a good example would be rent income that has been received in advance another example would be membership fees etc... thr income received in advance is seen as a liability because it is money that does not correlate to that specific accounting or business year but rather for one that is still to come. the income account will then be credited to the income received in advance account and the income received in advance will be debited to the income account such as rent. When the time period for which the money was received comes, then a reversal takes place which is the same only differing by now debiting the income account to income received in advance account and vice versa.
What are the ratings and certificates for Advance Warning - 2003?
Advance Warning - 2003 is rated/received certificates of: Australia:G
What are the ratings and certificates for Luggage in Advance - 1913?
Luggage in Advance - 1913 is rated/received certificates of: UK:U
Meaning Advance Payment Tax?
Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance payment of tax
What are the ratings and certificates for Sonic Advance - 2001 VG?
Sonic Advance - 2001 VG is rated/received certificates of: Australia:G USA:E
Can I get a payday advance if I am disabled and my sole source of income is Social Security Disability?
“Can I get a payday advance if I am disabled and my sole source of income is Social Security Disability?”
What are the ratings and certificates for Army Men Advance - 2001 VG?
Army Men Advance - 2001 VG is rated/received certificates of: USA:E
What are the ratings and certificates for Duke Nukem Advance - 2002 VG?
Duke Nukem Advance - 2002 VG is rated/received certificates of: USA:T
What are the ratings and certificates for Sonic Advance 2 - 2002 VG?
Sonic Advance 2 - 2002 VG is rated/received certificates of: USA:E
