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Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
Is unearned revenue a current liability when advance payment received for construction work?
no
Is unearned revenue a current or a long liabilities?
Unearned revenue is generally considered a current liability. The only time it would be a long term liability would be if the company does not reasonably expect to "earn" the revenue withing one year or less or one accounting period.
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
When is unearned revenue recognized in the financial statements?
What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements Is a church a company that could have unearned revenue?
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
Is unearned revenue a current liability when advance payment received for construction work?
no
Do you report unearned revenue on the income statement?
Unearned revenue is liability for business as amount is received but services are not provided that's why it is liability until it is earned and shown in balance sheet.
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
Is unearned revenue a current or a long liabilities?
Unearned revenue is generally considered a current liability. The only time it would be a long term liability would be if the company does not reasonably expect to "earn" the revenue withing one year or less or one accounting period.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
Is unearned revenue a liability?
yes
Is unearned revenue an asset or liablility?
Unearned revenue is liability until it is earned and shown under liability side of balance sheet.
Is unearned revenue considered an asset?
No it is a current liability and is not included in the Income Statement, as other revenues would be.
