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What else can I help you with?
2 Revenues represents a. an outflow of assets resulting from the sale of goods or services b. assets received from selling products or services c. assets used or consumed in selling products or?
assets received fro selling products or services
If you bill a customer for services performed does that increase your assets?
yes.
What Journal entry for services performed but not received cash?
debit accounts receivablecredit services revenue
Which is associated with cash received in advance for services to be performed in the future?
Cash received in advance for services to be performed in the future is associated with a liability known as "unearned revenue" or "deferred revenue." This represents an obligation for the company to deliver services or products at a later date. Until the services are performed, the company cannot recognize this cash as revenue on its income statement. Instead, it is recorded on the balance sheet as a liability.
What are Revenue and Expense?
Revenues are the value of assets received in exchange for products or services provided to customers as part of a business's main operations. Expenses are costs incurred or the using up of assets that result from providing products or services to customers. Expenses can arise from increases in liabilities.
What are money held and assets to be received in fixed or determinable amount of money?
monetary assets
Is unearned rental income assets?
Actually it is the opposite. If you have received compensation for services, but you have not earned that compensation yet, you incur a liability. That liability represents an obligation to perform those services. As the money is earned, the liability to reduced and you earn revenue.
What is Narration in accounting?
A narration is a description of the journal entry.eg:Dr CrBank 1000Electrical Services Revenue 1000(received cash payment for electrical services performed)The last part (in italics) is the narration.
If 1800 was received in January for services performed in January what was the balance in Unearned Service Revenue at December 31 2013?
If $1,800 was received in January for services performed in January, this amount would not affect the balance in Unearned Service Revenue at December 31, 2013, as it relates to future revenue. The balance in Unearned Service Revenue at that time would depend on any amounts received in advance for services not yet performed prior to January 2014. Without additional information regarding prior unearned revenue, we cannot determine the exact balance at December 31, 2013.
What is the definition of revenue?
The definition of revenue for a company is the amount of money that they received for sold goods or services provided in a specific time frame. For the government is means the increase in assets of government funds.
What are the ratings and certificates for Frozen Assets - 1933?
Frozen Assets - 1933 is rated/received certificates of: UK:U
What are traded in financial markets?
a. Security b. Assets used to produce goods and services c. The goods and assets produced by the firm d. both real assets and financial assets
