Unearned revenue never appears in the after-closing trial balance.()
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A、Debit Sales, credit Unearned Revenue.
B、Debit Unearned Revenue, credit Sales.
C、Debit Cash, credit Unearned Revenue.
D、Debit Unearned Revenue, credit Cash.
E、Debit Cash, credit Revenue.
A、A revenue on the balance sheet.
B、A liability on the balance sheet.
C、An unearned revenue on the income statement.
D、An asset on the balance sheet.
E、An operating activity on the statement of cash flows.
Which of the following is not true of unearned revenue?______.
A.Unearned revenue represents money that a company has received in advance of providing the goods or services to its customer.
B.It is considered to be owner's equity before the goods or services are provided.
C.After the goods or services are provided, the revenue is recognized and the liabilities are eliminated.
D.Magazine subscriptions are an example of unearned revenue as the cash is received in advance for the subscriptions.
A、recorded as a debit to an unearned revenue account
B、recorded as a debit to a prepaid expense account
C、recorded as a credit to an unearned revenue account
D、recorded as a credit to a prepaid expense account
E、not recorded in the accounting records until the earnings process is complete
A、prepaid accounts
B、accounts payable
C、notes payable
D、unearned revenue
A、accrued revenue
B、accrued expense
C、unearned revenue
D、prepaid expense
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