Deferred Revenue | Examples | Journal Entry in Accounting скачать в хорошем качестве

Deferred Revenue | Examples | Journal Entry in Accounting

In this video, on Deferred Revenue we will look at definition, examples and deferred revenue journal entry in accounting. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞? ----------------------------------------------- Deferred revenue or deferred income is the payment of goods and services earned by firm from its clients before the delivery or performance of goods and services. 𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐄𝐱𝐚𝐦𝐩𝐥𝐞𝐬 -------------------------------------------------- #1 - Service contracts such as housekeeping, cleaning, etc. #2 - Insurance contracts #3 - Rent paid before hand #4 - Appliance services contracts such as Air conditioners and water purifiers. #5 - Tickets sold for events such as sporting events and concerts. 𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐢𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 ---------------------------------------------------------- Let's understand with help of example. Suppose a firm ABC appoints a housekeeping firm PBK to take care of its office cleaning and maintenance. The contract is for a 12-month period, with Company ABC paying $ 15,000 a year in advance. Thus, PBK has not yet gained $15,000 at the beginning of the contract and payment time and will record it in deferred income accounting: Account Debit Credit Cash $ 15,000 Deferred Revenue $ 15,000 If you want to know more about 𝐃𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞, you can visit the 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐡𝐞𝐫𝐞:- https://www.wallstreetmojo.com/deferr... Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe -    / @wallstreetmojo