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Unearned Revenue has a normal balance of a?
Credit. Unearned Revenue is a Liability and like all Liabilities it has a Credit Balance.I decided to add this as I have been asked "why" is Unearned Revenue a liability isn't it Revenue?Yes and no. The key word here is "Unearned". Because of the fact that it is unearned, the company (although has received money) is liable for that in some form. For example, if a person pays a business $5,000 in advance for painting their house, the company now is liable for that amount, meaning they have to do one of two things.1. Complete the job and "earn" the moneyor2. Refund the money and not do the jobUntil this is done, the money received in advance for the job is listed as Unearned Revenue and categorized as a liability.
When a company provides services for which cash will not be received until some future date the company should record unearned revenue for the amount charged to the customer?
When a company provides services for which cash will be received in the future, it should recognize unearned revenue as a liability. This represents the obligation to deliver services or goods that have been paid for but not yet provided. As the company fulfills its obligations over time, it can then recognize the revenue. This accounting treatment ensures that revenues are matched with the period in which the services are actually rendered.
What are some industries in the Midwest?
farming, fishing, zebra mussels, agriculture are some industries
Why are some record companies not keen on You Tube?
Some record companies are wary of YouTube due to concerns over copyright infringement and the potential for unauthorized distribution of their music. They fear that free access to songs on the platform may undermine sales and streaming revenue. Additionally, the revenue generated from YouTube may not be sufficient to compensate artists and labels fairly, leading to a reluctance to fully embrace the platform. This tension between exposure and monetization creates a complex relationship between record companies and YouTube.
What were some industries the middle colonies?
what were some industries in the middle colonies
What does it mean when when you have a dream about Jesus giving you money?
The image of Jesus Christ represents unearned, undeserved grace and forgiveness. So this dream could express the dreamer's desire to receive unearned money, or perhaps forgiveness of some financial debt.
What are some major industries in Greece?
some major industries include trading and fishing
What are some industries in Ukraine?
some major industries in the Ukraine areshipbuildingheavy engineeringmotor industry
What categories of industry in Dhaka Bangladesh?
By number of factories and by number of workers engaged, the ready-made garments industry is having the bigger portion. Then comes other Industries: Textile, Jute, Construction. Some small industries earn big revenue (especially foreign currency). They are: Fish processing, Handicrafts, Software and IT etc etc.
What are some major industries in Idaho?
Some major industries in Idaho are agriculture mining, and lumber.
What are some of the major industries in Barbados?
Some major industries are sugar cane, manufacturing, and tourism.
What are some industries for the coast beach region?
The sea food industries.
