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No, it is an owner's equity account.
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∙ 9y ago
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Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
What account is credited When an enterprise is the recipient of a donated asset?
The revenue account.
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
What type of account is equipment?
Equipment is a long term asset account available for business to generate economic revenue.
Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
Is account revenue an asset?
No, it is an owner's equity account.
What account is credited When an enterprise is the recipient of a donated asset?
The revenue account.
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
What type of account is equipment?
Equipment is a long term asset account available for business to generate economic revenue.
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
Is service revenue a revenue account?
Yes, it is, but accounts receivable is not.
Is sales an asset quity or liabitity?
Sales is not an asset, liability or equity account rather it is a revenue account and part of income statement rather balance sheet.
Is an account receivable a revenue?
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
Is a service revenue that is billed but not paid a credit or debit?
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
What type of account is Prepaid Rent?
balance sheet as a current liability until it's earned, when you transfer the amount earned to revenue.
