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.
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)
Is deferred interest deductable
Payment Deferred was created in 1926.
yes - either a deferred tax asset (DTA) or a deferred tax liability (DTL).
an deferred revenue is known as accounting
What Did you mean by deferred revenue tax
dr Bank/Accounts Receiveable (A) xxx cr Deferred Revenue (L) xxx
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
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
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.
debit
true
yes it is a part of deffered revenue exp
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)
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.
P&L A/C......Dr To Deffered revenue Expendature A/C