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Revenue
Anonymous
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Is rent a capital or revenue expenditure?
Rent received or paid both are revenue expenditures as it is to be received or paid at every month time.
Does rent revenue go on a balance sheet or income statement?
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
What is the normal balance for prepaid rent?
Prepaid rent is a rent paid in advance so it is current asset and it will have debit balance as normal balance.
Is Commission a revenue or an expense?
if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
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.
Is rent a capital or revenue expenditure?
Rent received or paid both are revenue expenditures as it is to be received or paid at every month time.
What kind of expense is rent expense?
Rent expense is a Revenue expense and not a capital expense. It is a revenue expense because it recurs from year to year and is not an expense in purchasing a fixed asset. It is classified as a revenue expense also because it features in the income statement of each year and following the principle of accruals, the accountant must, make the necessary end of period adjustments to make sure that the the amount of rent expense that should have paid is charged against revenue and not just the actual cash paid.
Is prepaid rent an asset or liability?
Prepaid rent is the asset of compan as it is paid already but not due yet so it is current asset and shown in current assets under balance sheet.
Does rent revenue go on a balance sheet or income statement?
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
Is prepaid rent is what type of asset?
Prepaid Rent is a Current-Asset account. Since it deals with "prepaid" it will expire on a regular basis and is not a "fixed" asset. Each month (or whatever terms the rent may be paid) the amount is removed from Prepaid-Rent and placed in Rent Expense.
Is prepaid rent goes to income statement?
Prepaid rent is that amount which is paid in advance but benefit of which is not yet taken by business so it is current asset of business and like all current assets it is also shown under asset side of balance sheet and not in income statement.
What is the normal balance for prepaid rent?
Prepaid rent is a rent paid in advance so it is current asset and it will have debit balance as normal balance.
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.
Is Commission a revenue or an expense?
if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
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 prepaid rent is asset?
Yes, any expense paid in advance is current asset as the actual benefit will be taken in future time period.
Is accrued revenue an asset?
no, its a revenue
