What Type of Account Is Unearned Revenue?


Unearned revenue can be placed on many accounts. For example, if a person made a prepayment on a lease agreement, the revenue is a liability until the source has been earned. A person can find out all the unearned revenue accounts at the local library or from a local accountant.
Q&A Related to "What Type of Account Is Unearned Revenue?"
Unearned Service Revenue is a Liability account.
1. Credit the cash accounts to reflect the increase in cash levels due to the revenue influx. For example, a small business is paid in advance for a year's worth of cleaning services
In business, revenue is income that a company
Anything where people pay for the service in advance of using it. Cell phone carriers charge in advance, as well as cable providers, and the best example I can think of are magazines.Cell
1 Additional Answer
Unearned revenue is considered to be a liability account. Unearned revenues are payments for services in the future. Adjusting entries are made after each accounting period.
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