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Unearned revenue a liability

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Anonymous

 ∙ 11y ago
Updated: 9/17/2023

Unearned revenue is the amount which client has paid already but not received the services yet so it is the liability of the company until they renderred the services to client or otherwise return back the amount to the client.

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 ∙ 11y ago

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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.

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.

Related Questions

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.

What type of account is unearned revenue?

Unearned Service Revenue is a Liability account.

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.

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 account is classified as a?

Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.

A liability revenue relationship exists with?

unearned revenue adjusting entries

What is the nature of the unearned revenue?

unearned revenue falls under the head of nominal account and it is definaltel a liability on the organization.

What is Unearned revenue reported as in a financial statements?

A liability.

Is unearned revenue a credit balance?

Yes, Unearned revenue has credit balance and it is liability for business until it is actually earned.

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