Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Does an unearned interest income an asset (https://www.askmehelpdesk.com/showthread.php?t=772373)

  • Oct 22, 2013, 11:28 PM
    daisyduran123
    Does an unearned interest income an asset
    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?
  • Oct 23, 2013, 12:12 PM
    pready
    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.

  • All times are GMT -7. The time now is 09:28 AM.