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Deferred revenue is revenue that is?
Deferred.
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).
Is a long term loan repayable in 6 years a non current asset or non current liability?
It is a loan repayable. Hence it is a liability. As the liability is for more than one year, it is non current liability.
Is subordinated capital notes a current liability or a long term liability?
Long term
Is Cash Credit Loan a current Liability?
no
Is service revenue liability?
Service revenue is not considered a liability; instead, it is classified as revenue on the income statement. However, if payment is received in advance for services not yet performed, it creates a liability known as "deferred revenue" or "unearned revenue." This liability reflects the obligation to deliver services in the future. Once the services are performed, the deferred revenue is recognized as actual service revenue.
Is Deferred income a current liability?
no
Is deferred rent revenue a liability?
Yes, deferred rent revenue is considered a liability. It represents rent payments received in advance for which the service has not yet been provided, indicating an obligation to deliver the rental space in the future. As the rental period progresses and the service is rendered, the deferred revenue is recognized as earned revenue on the income statement.
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
Deferred revenue is revenue that is?
Deferred.
How deferred gross profit is liability?
Deferred gross profit is considered a liability because it represents revenue that has been collected but not yet earned. This occurs when a company receives payment for goods or services that it has not yet delivered or fulfilled. Until the company fulfills its obligation to the customer, the amount remains a liability on the balance sheet, reflecting the company's obligation to provide the promised goods or services in the future. Once the service is rendered or the product delivered, the deferred gross profit is recognized as revenue.
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 type of account is deferred revenue?
Deferred revenue is classified as a liability on a company's balance sheet. It represents money received from customers for goods or services that have not yet been delivered or performed. This means the company has an obligation to fulfill these services or deliver these products in the future. As the services are provided or goods are delivered, the deferred revenue is recognized as earned revenue on the income statement.
Deferred revenue is an account typically classified as a revenue or sales account?
Deferred revenue is actually classified as a liability on the balance sheet, not a revenue or sales account. It represents money received by a company for goods or services that have not yet been delivered or performed. As the company fulfills its obligations, the deferred revenue is recognized as actual revenue on the income statement. This accounting treatment ensures that revenue is matched with the period in which the service is provided or the product is delivered.
Is a three year notes payable classified as a current liability?
Only the portion of it that is due within the next 12 months is current. The balance is a deferred or non-current liability.
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
