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Accounting entry for deferred revenue expenditure?
P&L A/C......Dr To Deffered revenue Expendature A/C
What is the journal entry for payment which is not earned?
debit cash / bankcredit unearned revenue
Final record of entry in a business' accounting system?
invoice
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
How do you record an accounting entry services rendered on cash?
[Debit] Cash account [Credit] Services revenue
What would the journal entry if revenue earned by the business during the year?
debit cash / bank / accounts receivablecredit revenue account
Accounting entry for deferred revenue expenditure?
P&L A/C......Dr To Deffered revenue Expendature A/C
What is the journal entry for payment which is not earned?
debit cash / bankcredit unearned revenue
Final record of entry in a business' accounting system?
invoice
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
How do you record an accounting entry services rendered on cash?
[Debit] Cash account [Credit] Services revenue
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received.?
True
What is the journal entry for investment revenue of 6000 was earned and received?
debit cashcredit interest on investment
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received?
True
If an adjusting entry were not made at the end of a period to remove the earned revenue from the unearned revenue account?
That would mean that the liabilities would be understated.
Would service revenue be considered an asset?
Revenue is not considered an assets. Even from a double entry point of view, revenue would be a credit where as assets are debits so there no even interchangeable. If revenue was kept on the balance sheet as deferred income it would be as a liability.
