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Is performed services a credit or debit?
Performed services is a revenue account and revenue account has credit balance as normal default balance so services performed also has credit balance.
What is the effect on income when service is rendered on credit?
Income from services rendered account will decrease and debtors account will increase
What is the effect of performing services on account on the basic accounting equation?
-liabilites, +stockholder's equity
What is the journal entry for prepaid income?
The journal entry for prepaid income is a debit to the Cash account and a credit to the Unearned Revenue account. The Unearned Revenue account is a liability. The rationale for such an entry is that this is income received in advance. This means that the income has not been earned since the services have not yet been performed. When the services have been performed it is appropriate to recognize the revenue and offset the liability account, unearned revenue.
Services rendered in accounting is what account?
revenue account
Is performed services a credit or debit?
Performed services is a revenue account and revenue account has credit balance as normal default balance so services performed also has credit balance.
When services are sold on account?
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
What is the effect on income when service is rendered on credit?
Income from services rendered account will decrease and debtors account will increase
What is the effect of performing services on account on the basic accounting equation?
-liabilites, +stockholder's equity
What is the journal entry for prepaid income?
The journal entry for prepaid income is a debit to the Cash account and a credit to the Unearned Revenue account. The Unearned Revenue account is a liability. The rationale for such an entry is that this is income received in advance. This means that the income has not been earned since the services have not yet been performed. When the services have been performed it is appropriate to recognize the revenue and offset the liability account, unearned revenue.
Services rendered in accounting is what account?
revenue account
How can you stop your Gmail account?
You can delete you Gmail account by Going to Google, Clicking on "Account Settings", Then Clicking on "Edit Services" and then Selecting, "Delete my account and all services associated with it".
How do you cancel an Gmail account?
You can delete you Gmail account by Going to Google, Clicking on "Account Settings", Then Clicking on "Edit Services" and then Selecting, "Delete my account and all services associated with it".
What measure is used to account for a biological effect?
Roentgen is the unit used to measure and account for a biological effect.
What is the accounting journal entry for service performed on account for 2500.00?
debit credit cash 2500 sales 2500
What account are affected when services are sold on account?
sales and accts. receivable
What is an account statement?
An account statement is a record of transactions and their effect on bank account balances.
