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View Full Version : Does an unearned interest income an asset


daisyduran123
Oct 22, 2013, 11:28 PM
Does an unearned income belongs to a balance sheet? If it is a balance sheet category, then is it belong to the asset account or liability account? IS it a current asset or current liabilities?

pready
Oct 23, 2013, 12:12 PM
Unearned Income is where somebody paid you in advance for a good or service. It appears on the balance sheet as a liability because you have to provide a good or service in the future like for a magazine subscription.