b. collected and not reported on the income statement. An unearned revenue can best be described as an amount a. collected and currently matched with expenses. O b. collected and not currently matched with expenses. Unearned revenue is money received from a customer for work that has not yet been performed. 96. c) revenue. Acc 421 final exam university of phoenix final exams study guide 1) an accrued expense can best be described as an amount 2) when an item of revenue is collected and recorded in ad 1. Hence, they are also called "advances from customers". An accrued revenue can be best described as an amount. An accrued revenue can best be described as an amount Select one: a. not collected and not currently matched with expenses. This is advantageous from a cash flow perspective for the seller, who now has the cash to perform the required services. An Accrued Expense Can Best Be Described As An Amount _____. An accrued expense can best be described as an amount a. paid and currently matched with earnings. 73. D ( S. O. Technically, we can just move funds via journal entries. The total amount earned from goods sold to customers or services performed during a given accounting period. c) not collected and currently matched with expenses. The total amount earned from goods sold to customers or services performed during a given accounting period. It just doesn't go through my head. 2) An accrued revenue can best be described as an amount. b. collected and not currently matched with expenses. Today the term often refers to income received by virtue of owning property (known as property income), inheritance, pensions and payments received from public welfare.The three major forms of unearned income … An unearned revenue can best be described … The term "Revenue" can best be described as: A. 5) An accrued expense can best be described as an amount: A. B. not paid and not currently matched with earnings. An unearned revenue can best be described as an amount: a) collected and currently matched with expenses b) collected and not currently matched with expenses c) not collected and currently matched with expenses d) not collected and not currently matched with expenses. C. Revenue. The unearned rent account has a balance of $72,000. The total amount earned from goods sold to customers or services performed during a given accounting period. D)not collected and not currently matched with expenses. C)not collected and currently matched with expenses. Question: Marked Out Of 1.00 An Unearned Revenue Can Best Be Described As An Amount Select One: A. B)collected and not reported on the income statement. An unearned revenue can best be described as an amount a. collected and reported on the income statement. D. Collected And Not Currently Matched With Expenses. I respect that you know better what's best for your business. c. not collected and reported on the income statement. c. not collected and currently matched with expenses. The term revenue can best be described as: A)The selling price of goods and services rendered to customers during a given accounting period. Which of the following is a real … 2) When an item of revenue is collected and recorded […] c. not collected and currently matched with expenses. Which type of account is always debited during the closing process? Unearned revenue is money received by an individual or company for a service or product that has yet to be provided or delivered. 13. D. $18,000 debit Unearned Rent Revenue and credit Rent Revenue, $25,000. An unearned revenue can best be described as an amount A)collected and currently matched with expenses. D)not collected and not reported on the income statement. Time-based contingencies: If revenue on this invoice was deferred due to unexpired time-based contingencies, then Receivables always prorates the credit memo amount between the earned and unearned revenue amounts on the invoice. Not Paid And Currently Matched With Earnings B.) C. not paid and currently matched with earnings. b) paid and not currently matched with revenues. Beginning And Ending Balances Of Accounts … However, if the unearned is not expected to be realized as actual sales, then it can be reported as a long-term liability. If $18,000 of the $72,000 is unearned at the end of the accounting period, the amount of the adjusting entry is A. D. paid and not currently matched with earnings. The term "Revenue" can best be described as: A. According to the accrual basis of accounting, a company must record revenues in the period they are earned. D. Unearned Rent Revenue 16,000 Rent Revenue 16,000. Not paid and currently matched with earnings. An unearned revenue can best be described as an amount a. collected and currently matched with expenses. An accrued revenue can best be described as an amount. 1) A prepaid expense can best be described as an amount. C)The net increase in owners' equity during a given period. Deferred revenue, or unearned revenue , refers to advance payments for products or services that are to be delivered in the future. These are proportionate to the unexpired portion of the insurance and appear as a liability on the insurer’s balance sheet since they would be paid back upon cancellation of the policy. The cash received from goods sold to customers or services performed during a given accounting period The net increase in Shareholders' (Stockholders') Equity … b. paid and not currently matched with earnings. B. Following the accrual concept of accounting, unearned revenues are considered as liabilities. B)collected and not currently matched with expenses. d. not collected and not currently matched with expenses. Collected And Currently Matched With Expenses. C)not collected and currently matched with expenses. $90,000. Can someone explain to me why Unearned revenue is best described as collected and not currently matched with expenses. $36,000. When an item of revenue is collected and recorded in advance, it is normally called a(n) ___ revenue. i chose C - correct. D)The "bottom line" in … B. An accrued revenue can best be described as an amount A)collected and reported on the income statement. Unearned revenue is a liability for the recipient of the payment, so the initial entry is a debit to the cash account and a credit to the unearned revenue … Paid and not currently matched with earnings. 25. A retainer fee is a type of unearned revenue in which a company, such as a law firm, receives a cash payment up front for services it will provide in the future. 72. An unearned revenue can best be described as an amount. finance 1) An accrued expense can best be described as an amount A. paid and currently matched with earnings. This means they represent prepayments made for your services that you can’t record as revenue until you fulfill them at a later time. A.) An accrued revenue can best be described as an account collected and not currently matched with expenses. a. collected and currently matched with expenses. Unearned income is a term coined by Henry George to refer to income gained through ownership of land and other monopoly. You can optionally clear the negative unearned revenue on this invoice. 3) An unearned revenue can best be described … 13. b. collected and not currently matched with expenses. A company must make adjusting … debit Rent Revenue and credit Unearned Rent Revenue, $35,000. D. Unearned revenue. i chose B - correct. debit Cash and credit Unearned Rent Revenue, $35,000. 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