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What is rent paid Asset or revenue?
Revenue
What is the normal balance of rent revenue?
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Is rent revenue an asset account?
No, rent revenue is not an asset account; it is classified as a revenue account. Revenue accounts reflect earnings generated from business activities, such as rent collected from tenants. In contrast, asset accounts represent resources owned by a company that have economic value. While rent revenue contributes to a company's overall financial position, it does not meet the criteria of an asset.
Is rent a capital or revenue expenditure?
Rent received or paid both are revenue expenditures as it is to be received or paid at every month time.
When trial balance of unearned rent is Credit 3600 now post entry of unearned rent as of Dec 31 of 1500?
so is it accounts rec of 1500 and credit rent revenue of 1500 or is it 2100 unearned rent and rent revenue 2100 I cannot get this straight
What is rent paid Asset or revenue?
Revenue
Where does rent revenue go on an income statement?
Rent revenue appears under the Non-Operating Revenue Section on the income statement.
What is the normal balance of rent revenue?
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Where does other or rent revenue go on the income statement?
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.
Is rent revenue an asset account?
No, rent revenue is not an asset account; it is classified as a revenue account. Revenue accounts reflect earnings generated from business activities, such as rent collected from tenants. In contrast, asset accounts represent resources owned by a company that have economic value. While rent revenue contributes to a company's overall financial position, it does not meet the criteria of an asset.
Is rent a capital or revenue expenditure?
Rent received or paid both are revenue expenditures as it is to be received or paid at every month time.
When trial balance of unearned rent is Credit 3600 now post entry of unearned rent as of Dec 31 of 1500?
so is it accounts rec of 1500 and credit rent revenue of 1500 or is it 2100 unearned rent and rent revenue 2100 I cannot get this straight
What is journal entry for rend received?
[Debit] CashCredit Rent Received / Rent Revenue
An example of deferred revenue is Unearned Rent?
true
What percentage of revenue should office rent be?
Nada!
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.
The journal entry to close the Fees Earnes 100 and rent revenue 25 accounts on December 31 during the closing process would be?
debit accounts receivable 125Credit fee revenue 100credit rent revenue 25
