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fees earned but not yet received is what account
Wiki User
∙ 9y ago
Yaseni Williams
accured expense
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What type of account is fees earned but not yet received?
Accrued Revenues.
What is unearned fees?
These are fees received but not yet earned, such as professional fees from clients. Unearned fees is classified as a current liability on a company's balance sheet, assuming that it will be credited within the normal accounting cycle.
Difference between accrued income and outstanding income?
Accrued Income is income that is earned by provided a service or the sale of a product but hasn't been received yet. Outstanding income is income that is yet to be earned.
Is fees earned debit or credit?
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
Are fees earned showed on a balance sheet?
No Fees Earned is Income Statement item it dont show on Balance sheet
What type of account is fees earned but not yet received?
Accrued Revenues.
What is unearned fees?
These are fees received but not yet earned, such as professional fees from clients. Unearned fees is classified as a current liability on a company's balance sheet, assuming that it will be credited within the normal accounting cycle.
What accounts are affected when recording cash received from clients for fees earned?
Debit Cash and cash equivalents. Credit Revenues or Sales.
Difference between accrued income and outstanding income?
Accrued Income is income that is earned by provided a service or the sale of a product but hasn't been received yet. Outstanding income is income that is yet to be earned.
What does revenues is not accrued mean?
Accrued revenue refers to revenue that has been incurred (earned) but not yet received.
Is fees earned debit or credit?
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
Are fees earned showed on a balance sheet?
No Fees Earned is Income Statement item it dont show on Balance sheet
Is fees earned a temporary account?
No.
Is fees earned an asset?
The Fees Earned account is most commonly used in the services industry, where it contains billings for such services as tax consulting, auditing fees, and general consulting.
What type of account is Fees Earned?
It is under capital which is the account type of Owner's Equity. Fees Earned is under the title Revenue when expanding the ledger.
Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
What is Unearned fees and unearned revenue?
Unearned fee and unearned revenue is that amount which is received from client in advance but actual services are not provided yet to client.
