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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
What type of account is Unearned Consulting Fees?
Unearned Consulting Fees is classified as a liability account. It represents money received by a business for services that have not yet been performed, indicating an obligation to deliver those services in the future. This account is typically recorded on the balance sheet until the services are rendered, at which point it is recognized as revenue.
Is unearned fees a example of prepaid expenses?
No, unearned fees are not an example of prepaid expenses. Unearned fees represent income received before services are performed, indicating a liability on the balance sheet until the service is rendered. In contrast, prepaid expenses are payments made in advance for goods or services that will be received in the future, representing an asset until the benefit is realized.
Is An example of a deferral Unearned Rent?
Yes, unearned rent is an example of a deferral. It represents rental payments received in advance for services not yet performed, meaning the revenue is not recognized until the rental period occurs. This deferred revenue is recorded as a liability on the balance sheet until the service is rendered.
When a company provides services for which cash will not be received until some future date the company should record unearned revenue for the amount charged to the customer?
When a company provides services for which cash will be received in the future, it should recognize unearned revenue as a liability. This represents the obligation to deliver services or goods that have been paid for but not yet provided. As the company fulfills its obligations over time, it can then recognize the revenue. This accounting treatment ensures that revenues are matched with the period in which the services are actually rendered.
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
What are your rights if someone will not pay for car repairs?
OHIO answer: If you are the garage and you still have the vehicle, then the car can stay until payment is made and I highly recommend you prepare a small claims court case to seek payment for services rendered. If you already let the person drive out with the car then you will need to go to court and sue for services rendered.
Can a tow company hold a vehicle hostage until payment is rendered in California?
Absolutely. The company performed a service with your vehicle, for which their is a fee. They release that vehicle once the fee is paid. It's the same anywhere else outside of California.
How did California gold rush of 1849 affect the growth of California?
James Marshall kept it a secret until someone found out.
How did the California gold rush of 1849 affect the growth of California?
James Marshall kept it a secret until someone found out.
What type of account is Unearned Consulting Fees?
Unearned Consulting Fees is classified as a liability account. It represents money received by a business for services that have not yet been performed, indicating an obligation to deliver those services in the future. This account is typically recorded on the balance sheet until the services are rendered, at which point it is recognized as revenue.
What cloud services could a person used to solve the problem of how to send large files to someone else?
One can use file sharing services to send files to someone else. These services host these large files until they are downloaded. Examples of such services include Mega and YouSendIt.
Is unearned fees a example of prepaid expenses?
No, unearned fees are not an example of prepaid expenses. Unearned fees represent income received before services are performed, indicating a liability on the balance sheet until the service is rendered. In contrast, prepaid expenses are payments made in advance for goods or services that will be received in the future, representing an asset until the benefit is realized.
Is An example of a deferral Unearned Rent?
Yes, unearned rent is an example of a deferral. It represents rental payments received in advance for services not yet performed, meaning the revenue is not recognized until the rental period occurs. This deferred revenue is recorded as a liability on the balance sheet until the service is rendered.
If you have filed for a divorce in California waiting for court to finalize divorce can you register with the California court to marry someone else?
You cannot get married until your divorce is final. Polygamy is against the law.
What are the release dates for It's All Fun and Games Until Someone Loses an Eye--- - 2009?
It's All Fun and Games Until Someone Loses an Eye--- - 2009 was released on: USA: 1 May 2009 (San Diego, California)
What does it mean when someone puts a lien on your home in California?
It means that you owe someone money, they have obtained a judgment against you and you will not be able to sell or refinance your property until the lien is paid and a discharge is recorded.
