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SSG Brown
May 25, 2009, 07:51 PM
whats is fee earned labled on a income statement ledger
dawgsnkats
May 25, 2009, 08:44 PM
SSG, going to need more info. Fees earned is a revenue account generally. This is a service revenue such as doctor, mechanic etc.. instead of a sales revenue such from sale of a product. Fees are listed as income.
morgaine300
May 25, 2009, 09:03 PM
Fees earned is labeled "fees earned."

It's not called an income statement ledger.

A ledger is a listing of ALL your accounts, with their balances and the transactions that affected those accounts. Some of these account balances will end up on the income statement and some will end up on the balance sheet.

If you call it an "income statement ledger," we don't actually know if you are referring to the income statement itself, or the ledger. But either way, it's labeled "fees earned." Just like it says.