Deferral 1 Prepaid Expenses 2. Unearned Expenses Accruals 1. Accured Revenue 2. Accured Expenses
Unearned fee and unearned revenue is that amount which is received from client in advance but actual services are not provided yet to client.
Unearned Fees appear on the
credit to unearned revenue
Unearned Revenue is a liability account.
Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of
Deferral 1 Prepaid Expenses 2. Unearned Expenses Accruals 1. Accured Revenue 2. Accured Expenses
Unearned fee and unearned revenue is that amount which is received from client in advance but actual services are not provided yet to client.
Unearned Fees appear on the
credit to unearned revenue
The keyword is "Unearned", because it is unearned it is a liability until after it is earned and is listed as such. Therefore, Unearned Revenue will be listed on financial statements that include "Liabilities".
Unearned Revenue is a liability account.
unearned
debit unearned incomecredit services liability
Unearned Service Revenue is a Liability account.
Unearned Revenue is a Liability Account
land rent is an unearned income