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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
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.
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
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.
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 payment is received for services not yet rendered no entry is recorded until that service has been rendered?
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
When was Revenue Commissioners created?
Revenue Commissioners was created in 1923.
