Is Unearned Revenue Reported On Income Statement
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C an unearned revenue on the income statement.
Is unearned revenue reported on income statement. The unearned revenue amount at the end of the time period is reported on the balance sheet as a current liability named deferred revenue. This means that in 2019 there has been a cash inflow of 2500 as unearned revenue which had no impact on the income statement and has been recorded as a current liability in the balance sheet. Unearned revenue is a liability on the balance sheet. Unearned revenue is part of balance sheet and shown in current liabilities as these are amounts received but revenue not earned.
Unearned revenue is reported in the financial statements as unearned revenue on the income statement revenue on the balance sheet. Usually this unearned revenue on the balance sheet is reported under current liabilities. Asset on the balance sheet. E a financing activity on the statement of cash flows.
D an asset on the balance sheet. Unearned revenue flows through the income statement as. However if the unearned is not expected to be realized as actual sales then it. In 2019 unearned revenue account had a balance of 6500 whereas in 2018 it amounted to 4000.
Liability on the balance sheet. Unearned revenue is reported in the financial statements as. As they deliver magazines each month the company keeps on recognizing the corresponding income in the income statement. B a liability on the balance sheet.
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