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Other or rent revenue is also revenue which is not from basic operations of business that's why this revenue is shown as other revenue in income statement.
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∙ 9y ago
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Where does rent revenue go on an income statement?
Rent revenue appears under the Non-Operating Revenue Section on the income statement.
Does rent revenue go on a balance sheet or income statement?
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
Where does accrued revenue go on the income statement?
An expense such as rent, utilities, insurance goes on the income statement because it is an expense that occurs to operate the business and it affects the net income of said business. If I have an income of $15,000 and I paid out expenses of $10,000 my net income is $5,000.
Does revenue generally mean after expenses or before expenses?
Revenue is before expenses or other costs of doing business. Revenue may be goods or services sold, or rent income , subscription income, interest income, or many other forms of income.
Is rent expense is credit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
What are examples of revenue income?
sales rent received commission received
What are revenue income and expendecture?
Basically, incomes and expenditures that take place regularly, as opposed to capital income and expenditure. Salaries, Rent, Printing and Stationary are examples of Revenue Expenses. Discount allowed, Rent received etc, are examples nof Revenue Incomes
What are the revenue account titles?
income, rent, commission, rebate, gambling, wages, winnings, .......
What kind of expense is rent expense?
Rent expense is a Revenue expense and not a capital expense. It is a revenue expense because it recurs from year to year and is not an expense in purchasing a fixed asset. It is classified as a revenue expense also because it features in the income statement of each year and following the principle of accruals, the accountant must, make the necessary end of period adjustments to make sure that the the amount of rent expense that should have paid is charged against revenue and not just the actual cash paid.
What should rent be classified as on a balance sheet?
Rent is not a balance sheet account, it is an expense, hence an income statement account.
What is revenue receipt?
It is revenue without any liability. Revenue receipts of government includes earning from tax incomes(like corporation tax, income tax, custom) and non tax income(like interest from bond, dividend from PSU). where as capital receipt include borrowing of the government like market loan and short term borrowing. The regular income from day to day business activities in a business is revenue receipts. For example,of revenue income are income for sales,interest,rent,commission,discount etc
