0

Subjects>Business>Accounting

Unearned revenue account is classified as a?

Anonymous

∙ 11y ago

Updated: 9/17/2023

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

Wiki User

∙ 11y ago

What else can I help you with?

Continue Learning about Accounting

Unearned revenue is classified as which type of the account?

contra account

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 is nominal account?

Unearned ravenue is liability account as revenue is not yet earned but cash received.

Related Questions

Unearned revenue is classified as which type of the account?

contra account

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 is nominal account?

Unearned ravenue is liability account as revenue is not yet earned but cash received.

Is unearned revenue nominal account?

no!! =) its a real account

Do unearned fees go into an income statement?

Not right away. When you record unearned fees or revenue it only hits the balance sheet. Ex: Debit- Cash or AR (Asset Account) Credit- Unearned Revenue (Liability) It is a liability until the revenue is earned in which case you then Debit: Unearned Revenue Credit: Revenue/Sales Account (finally and income statement account!)

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.

Are Unearned Revenue is a contra asset account?

No. It's a liability account.

Will unearned revenue be shown in profit or loss account?

NO

Is unearned revenue a temporary account?

No it's permanent a

Trending Questions

Is freight taxable in Indiana? Whose bic number is abbygb2lxxx? Is estimated tax payable a current liability? What is a journal entry that moves the difference between revenue and expenses from the income statement to the owner's equity? What taxes would be deducted in determining an employee's net pay? Why work for hsbc? How do you apply for academy credit card? When does foodlion w-2 go out? How do you correct a opening balance mistake? What kind of services does Lawson Software offer? What is a T4 tax form? Does a 16-year-old have to complete a tax return for 2008 if he began working in 2008? Can you use your last pay slip to fill in tax return? Advantages of online public access catalog and explain? What is the practical difference if any between an irrevocable letter of credit and an irrevocable standby letter of credit? What increase the balance in paid capital in excess par? What is the difference between an expense and an asset? Is depreciation a direct or indirect cost? What is a subordinate budget? Reasons for preparing manufacturing account?

Resources

Top Categories

Product

Company

Copyright ©2025 Answers.com. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.