Revenue is not part of balance sheet rather it is part of income statement as it is the amount earned by selling goods or services.
Revenues which are earned already is part of income statement but that revenue which is not yet earned is liability and shown under liability side of balance sheet.
Yes
Credit side of balance sheet.....Revenue is an Owners Equity account therefore has a Credit Balance.
Earned revenue is part of income statement and it is not shown under balance sheet.
I'm not sure I fully understand your question. Revenue would never be on a balance sheet, it is an income statement account.
Service revenue will appear on the income statement as a revenue account. It will indirectly effect the balance sheet in that it will be accompanied by an increase in either cash, accounts receivable, unbilled revenue (assets) or a decrease in unearned revenue (liability).
It doesn't. The account appears on the balance sheet; the unearned revenue is presented as part of current liabilities.
A balance sheet account is any item that is found on the financial statement known as the balance sheet. The figures reflected on the balance sheet, consist of the ending balance of the balance sheet account. After all the transactions are posted in the individual balance sheet account's "T" account (involving debits and credits), the ending balance is the amount found on the balance sheet.
No. A revenue account should always show a credit balance.
service revenue
Sales is not an asset, liability or equity account rather it is a revenue account and part of income statement rather balance sheet.
Neither. Sales revenue is a P&L account, not a balance sheet account. When booking an entry to sales you would credit sales and either debit cash or accounts receivable.
Income is an income statement account and shown in income statement and not a balance sheet account.
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.