Receipt of unearned revenue

Receipt of unearned revenue

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Date added: 12.03.2015
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an asset; increases a liability. Receipt of an unearned revenue: assets, liabilities, stockholders' equity, revenues, expenses. What is the appropriate order for

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A. To record receipt of unearned revenue. B. To record this periods earning of prior unearned revenue. C. To record payment of an accrued expense Feb 7, 2013 - I have to match the following adjusting entries to the letters, pleze help A. To record receipt of unearned revenue. B. To record this period's For example, suppose that a customer pays a full year's gym membership of $1,200 in advance. For the gym, this receipt creates an "unearned revenue," to be

Cash paid to a company for goods or services not yet rendered must be treated as deferred revenue; it cannot be recognized upon cash receipt. By familiarizing Unearned revenue (also known as deferred revenue/income) is the exact opposite of accrued income. It represents revenue already collected but not yet earned Apr 11, 2010 - Since this receipt of cash has not been fully earned, the unearned revenue is recorded as a liability. A liability is typically considered to be an receipts Entries record return of performing the cash basis Receipts of unearned revenues received Under a company paid half in advance performing the firm Revenues received in advance are reported as a current liability if they will be to the liability account such as Customer Advances or Unearned Revenues.Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been rendered or products have been

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