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land rent is an unearned income
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the poverty guideline is a measurement of how much income
is yearly pay.
The definition of a Normal Good is: a good that will increase in consumption as income increases and decrease in consumption as income decreases.
Unearned income is any income that was not paid as part of the compensation for services provided by the taxpayer.An example is income that is generated as a result of investments, properties, stocks and bonds, etc.
Unearned income is any income that was not paid as part of the compensation for services provided by the taxpayer.An example is income that is generated as a result of investments, properties, stocks and bonds, etc.
Money that is given by legacy or inheritance
land rent is an unearned income
unearned income
income recived a/c dr to unearned income
[Debit] Cash / bank [Credit] Unearned Interest Income
earned income: your paycheck, and salary unearned income: interest on ur savings, interest ;)
debit unearned incomecredit services liability
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Amount which is reveived in advance from customer for goods but goods are not actually sold to that customer until some future period.
No. Unearned Revenues are recorded on the Balance Sheet.