classified balance sheet

hilliergirl · #1 Mar 29, 2007, 04:33 PM

does unearned revenue go on a classified balance sheet???

CaptainForest · Mar 29, 2007, 06:27 PM

Yes it goes on the balance sheet.

Unearned Revenue is a liability, most likely a shot term one.

Future Accountant · Dec 14, 2007, 08:23 PM

It does go on the balance sheet. And under Classified Balance sheet, it would go under the "Current Liabilities" section.

manik chand dey · Dec 15, 2007, 01:18 AM

Unearned income that is income received in advance, is to be shown as a lialbility in the balance sheet.This portion of the income related to the next year for which services is yet to be rendered.



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