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What is unearned service revenue?
The revenue for which the services have been rendered but the return for the services i.e revenue, is yet to be received from the person to whom we have rendered the services is called unearned service revenue.
which company provide best medical billing services?
Medcare top medical billing services (MSO), a revenue cycle management company for healthcare, offers specialized solutions that use industry-leading technology. We have specialized services to help you maximize your revenue and focus on patient care.
Is service revenue a debit or cedit?
Services revenue is also a revenue and like all revenue accounts which have credit balance as normal balance, services revenue also has a credit balance.
Why is unearned revenue a liability instead of a revenue account?
Unearned revenue accounts represent the amount of cash received before services are provided. Since services have not been provided yet, it is not revenue. (It represents the obligation for future services in order for the revenue to be earned.)
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
Why might large corporations be more likely to support developent of sustaining technology rather than emerging technology?
the technology is already aligned with main revenue streams
Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
What is difference betweenEarned revenue and unearned revenue?
Earned Revenue = The revenue benefits of which have been provided to customers Unearned Revenue = The amount of which is already received but the corresponding benefits or services have not yet been provided. Example: Amount received to provide repair services next month. So when next month services will be provided that unearned revenue become earned revenue.
Is service revenue liability?
Service revenue is not considered a liability; instead, it is classified as revenue on the income statement. However, if payment is received in advance for services not yet performed, it creates a liability known as "deferred revenue" or "unearned revenue." This liability reflects the obligation to deliver services in the future. Once the services are performed, the deferred revenue is recognized as actual service revenue.
When was revenue created?
Revenue Commissioners was created in 1923.
What s revenue?
Revenue is money made from the sale of goods or services.
When was Revenue Tower created?
Revenue Tower was created in 1990.
