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When services are sold on account?
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
What is the revenue account for a merchandising business entitled?
Sales
What is A temporary account used in closing revenue and expense accounts called?
The answer is income summary.
Can revenue Canada freeze your bank account if you owe money from student loans?
yes
Largest source of revenue for the federal government?
The largest source of revenue for the federal government has been individual income taxes and payroll taxes. These taxes account for 82% of all federal government income.
Unearned revenue is a contra revenue account?
Unearned Revenue is a Liability Account
What kind of account is unearned revenue?
Unearned Revenue is a liability account.
What type of account is unearned revenue?
Unearned Service Revenue is a Liability account.
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
What type of account is unearned service revenue?
Unearned Service Revenue is a Liability account.
Is Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
What type of account is the rent receivable account?
Revenue account
Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
Does a revenue account normally have a debit balance?
No. A revenue account should always show a credit balance.
Is service revenue a revenue account?
Yes, it is, but accounts receivable is not.
Is account revenue an asset?
No, it is an owner's equity account.
Services rendered in accounting is what account?
revenue account
