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Expenses are overstated and assets are overstated
Expenses are overstated and assets are overstated
Now, if a capital expenditure is treated as a revenue expenditure, then the expenses would be overstated and also the Fixed assets would be overstated
Unearned Revenue is a Liability Account
If an adjustment is needed for unearned revenues, the liability is overstated and the related revenue is understated before adjustment. Another word for revenue is income.
Expenses are overstated and assets are overstated
Expenses are overstated and assets are overstated
Expenses are overstated and assets are overstated
Now, if a capital expenditure is treated as a revenue expenditure, then the expenses would be overstated and also the Fixed assets would be overstated
Unearned Revenue is a Liability Account
If an adjustment is needed for unearned revenues, the liability is overstated and the related revenue is understated before adjustment. Another word for revenue is income.
Unearned Revenue is a liability account.
Unearned Service Revenue is a Liability account.
That would mean that the liabilities would be understated.
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
Unearned Service Revenue is a Liability account.
net Accounts Receivable will be overstated.