𝗔𝗰𝗰𝗿𝘂𝗲𝗱 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: 𝗜𝘀 𝗜𝘁 𝗔𝐧 𝗔𝗰𝘁𝘂𝗮𝗹 𝗥𝗲𝘃𝗲𝗻𝘂𝗲?
When a company provides its services or delivers its goods before the payment is received is called accrued revenue.
𝐔𝐧𝐞𝐚𝐫𝐧𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐖𝐡𝐞𝐧 𝐈𝐭 𝐁𝐞𝐜𝐨𝐦𝐞 𝐄𝐚𝐫𝐧𝐞𝐝?
The questions like what is unearned revenue? How to calculate it and recognize it? When is it transferred from the
𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐓𝐫𝐞𝐚𝐭𝐞𝐝 𝐀𝐬 𝐀 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐎𝐫 𝐑𝐞𝐯𝐞𝐧𝐮𝐞?
Have you ever got payment for something before delivering services? Or have an online shopping experience? If yes, then you
𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: 𝐓𝐫𝐞𝐚𝐭𝐞𝐝 𝐀𝐬 𝐀 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐎𝐫 𝐑𝐞𝐯𝐞𝐧𝐮𝐞? Read More »
𝐖𝐡𝐲 𝐃𝐨 𝐖𝐞 𝐍𝐞𝐞𝐝 𝐀 𝐂𝐨𝐧𝐭𝐫𝐚 𝐀𝐜𝐜𝐨𝐮𝐧𝐭?
A contra account reduces the balance of its associated account and also recognizes the reason for reducing it.