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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.
What else can I help you with?
Is accounts receivable an example of prepaid expenses?
No. They are both assets. "Accounts Receivable" represents money owed to the business by their credit customers. "Prepaid expenses" represents money spent on goods and services that have not yet been received. Some examples of prepaid expenses are insurance, rent, and legal fees.
Where does the unearned fees appear?
Unearned Fees appear on the
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.
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.
Is unearned fees revenue an asset?
yes
Is accounts receivable an example of prepaid expenses?
No. They are both assets. "Accounts Receivable" represents money owed to the business by their credit customers. "Prepaid expenses" represents money spent on goods and services that have not yet been received. Some examples of prepaid expenses are insurance, rent, and legal fees.
Where does the unearned fees appear?
Unearned Fees appear on the
What does the prepaid tuition plan cover?
Tuition and fees
Can you include personal expenses in the proprietorship?
can we take personal expenses ( example my children school fees,hospital fees my house construction expenses )in the proprietorship concern
Is unearned fees an asset?
yes
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.
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.
Are guardianship expenses tax deductible?
If a taxpayer wants to deduct the legal fees of guardianship, then part of these legal fees will need to have to do with the taxpayer trying to collect money for the guardianship. For example, if the guardian receives any child support or other unearned income from the guardianship, separate tax papers need to be filed.
Is unearned fees revenue an asset?
yes
In accounting What is the difference between unearned fees and fees earned?
One is a liability and the other an asset.
Can unearned fees be deposited in the business checking account?
It depends
What does the prepaid tuition covers?
Tuition and fees
