unearned revenue

Tag: unearned revenue

Unearned Revenue

See Also: Accounts Payable Unearned Revenue Definition Unearned revenues are titles for certain revenues that have not been earned. You can also call unearned revenues deferred revenues. Though it seems comically intuitive, unearned revenue is very important and often observed in the real world. In accounting, they are represented as liabilities on the balance sheet. This is

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Adjusting Entries

See Also: Accounting Principles Accounting Concepts Accrual Based Accounting Prepaid Income Tax Deferred Revenue Adjusting Entries Definition There are generally two types of adjusting journal entries done during the period. First, an adjusting entry can be an entry made at the end of a period. These adjusting entries record an unrecognized revenue or expense occurred

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