Inscrit le: 31 Jan 2018
|Posté le: Lun 12 Mar - 08:29 (2018) Sujet du message: DeMarre Carroll Raptors Jersey
Amounts received before the actual earning of revenues are known as unearned revenues. They arise when customers pay in advance of the receipt of goods or services. Because the company has received cash but has not yet given the customer the purchased goods or services Authentic Nicolas Gaitan Jersey , the unearned revenues are in fact liabilities. That is, the company must provide something in return for the amounts received.
Accounting For Unearned Revenue
There are two characteristics of adjusting entries. First, adjusting entries made at the end of an accounting period do not involve cash. Cash has either charged hands prior to the end of the period Authentic Yannick Carrasco Jersey , or cash will change hands in a future period. It is precisely because cash is not changing hands on the last day of the accounting period that most adjusting entries must be made. Second, each adjusting entry involves a balance sheet account and an income statement account. In each case requiring adjustment, we are either
• Generating an asset Authentic Angel Correa Jersey ,
• Using up an asset,
• Recording an incurred but unrecorded expense, or
• Recording revenue that has yet to be earned
Knowing that adjustment entry has at least one balance sheet and one income statement account makes the adjustment process a little easier. Once you have determined that an adjusting entry involves a certain balance sheet account Authentic Augusto Fernandez Jersey , you can then focus on identifying the corresponding income statement account that requires adjustment.
Is Unearned Revenue An Asset Or A Liability?
Unearned revenues are revenues collected in advance even though they are not yet earned. In other words, the business already collected cash before it performed the services or sold the product to its customers. Unearned revenue are classified as current liabilities because the business is obligated to perform a service or sell a product in the future in exchange for the cash that it collected in advance. Typical examples of unearned revenues are collecting advanced subscription payment for magazines or newspaper, selling season tickets to sports events Authentic Kevin Gameiro Jersey , collecting advanced rent from tenants, restaurants collecting deposits for reservations, lottery ticket receipts good for several drawings collected in advance Authentic Saul Niguez Jersey , etc. It is important to record properly what portion of customer advances have been earned, which should be appropriately recorded as revenues and what portion is unearned which should be appropriately recorded as liability.
Examples Of Unearned Revenue
A building contractor may require a deposit before proceeding on construction of a house. Upon receipt of the deposit, the contractor has unearned revenue Authentic Sime Vrsaljko Jersey , a liability. The contractor must construct the house to earn the revenue. If the house is not built, the contractor will be obligated to repay the deposit.
Unearned revenue is a cash amount received before they have been earned. Unearned revenue is a tricky name for a liability. Liabilities are reported in the balance sheet. Don’t make the mistake of including unearned revenue with the revenues on the income statement.
When planning your next vacation you may want to consider a fun-filled getaway to the second largest island in Hawaii, Maui. There are so many adventurous Diogo Jota Jersey , as well as, relaxing things to experience on a Maui vacation that you may never want to go home.
One of the most common things to do on your adventure to Maui is to take a scuba diving trip. Scuba diving will give you the opportunity to experience an underwater paradise that is unparalleled by any other. So get out your underwater camera, because this is one trip you'll never want to forget.
On your scuba diving excursion you are bound to see an abundance of sea life Nicolas Gaitan Jersey , as well as some things you wouldn't expect to find on any other scuba trip. Maui waters offer some of the most colorful and breath-taking types of fish and coral. You'll probably also be able to catch a glimpse of eels or eagle rays as well. While you're enjoying your underwater view look for the unique lava formations that are home to a wide array of fish. The Turtle Caves are a spectacular place to see these formations including some pinnacles that rise above the water's surface.
Another unique experience you might have will scuba diving in Maui is the opportunity to dive among an underwater wreck. Armored vehicles, a Navy bomber plane, and an upside-down Hellcat are just a few of the incredible pieces of wreckage left over from World War II. Maui is the only place in the world where you can swim among such extraordinary sights.
Along with a great opportunity to dive off the island's beautiful coast Yannick Carrasco Jersey , Maui also offers the opportunity to participate in diving lessons as well. If you are not an experienced diver you may want to consider visiting one of Maui's many dive shops for a lesson in scuba diving and how to stay safe while under the water. Scuba lessons are reasonably priced and usually start out for as little as $75. If you need to rent equipment or wish to become certified your lesson can become a little more costly.
Once you have learned some tricks of the trade you may also get the chance to take part in a dive tour. There are numerous diving tours to choose from including those for beginners and those for the more experienced diver. Experienced divers can take advantage of a chance to swim among caves and caverns and experience things you would not see anywhere but Maui.
So get going on those vacation plans. And when you're planning your days in Maui don't forget to scuba diving to your itinerary. It's an opportunity you will not . Cheap Jerseys China Wholesale Cheap NFL Jerseys China Cheap College Basketball Jerseys Cheap MLB Jerseys China Cheap Wholesale NFL Jerseys Cheap NCAA Football Jerseys Cheap NBA Jerseys Online Wholesale Jerseys From China Wholesale NFL Jerseys Wholesale NFL Jerseys China