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Is deferred revenue a current liability?
Yes, deferred revenue is a current liability. It means that the revenue has yet to be earned, therefore it is still owed to the business or company.
What is deferred revenue?
A deferred revenue expenditure is that where the benefit the expenditure can be had for more than ONE accounting period and less than FIVE accounting periods. There are no hard and fast rules that the period is linted to 1 - 5. It is just an assumption. It stands as an expired cost after the business entity has had the complete benefits. It is written off every year. saurav singh B.E(MECH) & MBA(FINANCE)
Deferred payment and interest?
Is deferred interest deductable
When was Payment Deferred created?
Payment Deferred was created in 1926.
Are all temporary differences that exist at balance date recognised as deferred tax assets or deferred tax liabilities?
yes - either a deferred tax asset (DTA) or a deferred tax liability (DTL).
What is the meaning of deferred revenue expenditure?
an deferred revenue is known as accounting
Tax treatment of deferred revenue expenditure?
What Did you mean by deferred revenue tax
What is the entry for deferred revenue?
dr Bank/Accounts Receiveable (A) xxx cr Deferred Revenue (L) xxx
What is the journal entry for deferred revenue?
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
Is deferred revenue an asset?
Deferred revenue is recognized when cash received in advance for product or service that not delivered or rendered, so it's liability, once service fulfilled or product received Revenue Would be recognized Deferred revenue also Known as unearned revenue
Is deferred revenue a current liability?
Yes, deferred revenue is a current liability. It means that the revenue has yet to be earned, therefore it is still owed to the business or company.
Is deferred revenue a debit or credit?
debit
An example of deferred revenue is Unearned Rent?
true
Can preliminary expenses be included in deferred revenue expenditure?
yes it is a part of deffered revenue exp
How do you account for subscription sales?
Debit Cash Credit Deferred (or unearned) Revenue - Subscription Sales As the subscriptions are fulfilled - if the total amount of a subscription for 12 (monthly) magazines is 120.00 then each month: Debit Deferred Revenue - Subscription Sales for 10.00 Credit Subscription Sales for 10.00 (Deferred Revenue is a liability account)
What is the journal for deferred income?
There are two sides to the entry, upon cash receipt you debit cash, credit deferred income. To apply the deferred income, the entry is debit deferred income and credit revenue.
How to treat deferred revenue expenditure in income tax act?
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