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  • Nota de Estudos
  • Rever Tópicos
    Tashika B.
    US
    Tashika B.

    I love the thought of the prepaid revenue, it ensures that a payment has been made and the organization can proceed.

    BabaJide Martins F.
    TR
    BabaJide Martins F.

    The prepaid revenue is a current liability.

    Alice B.
    GQ
    Alice B.

    What is meant by commission revenue?

    Morne V.
    ZA
    Morne V.

    Revenue may be received in advance (prepaid) for a organization

    Sunday O.
    NG
    Sunday O.

    Prepaid revenue

    Odongo M.
    UG
    Odongo M.

    Accounting -> Prepaid revenue Prepaid revenue Revenue may be received in advance (prepaid). Prepaid revenue In this example commission of $4000 has been received with $500 prepaid. The prepaid revenue is a current liability. Date Accounts Debit Credit 31 Mar. Commission revenue 500 Prepaid commission revenue 500 Commission revenue owing 31 Mar. Commission revenue 3 500 Profit and Loss a/c 3 500 Commission revenue posted to Profit and Loss a/c 1 Apr. Prepaid commission revenue 500 Commission revenue 500 Reversing entry In the ledger Commission revenue 31 Mar. Prepaid commission revenue 500 31 Mar. Bank 4 000 Profit and Loss a/c 3 500 4 000 4 000 1 Apr. Prepaid commission revenue 500 Prepaid commission revenue 1 Apr. Prepaid commission revenue 500 31 Mar. Prepaid commission revenue 500 Profit and Loss account 31 Mar. Prepaid commission revenue

    Manish K.
    NP
    Manish K.

    chapter is clearly understood.

    Penelope M.
    US
    Penelope M.

    prepaid is a liability, peradventure the product/work is not produced in a timely manner, then yes it could be a liability, why? because you counted it as a revenue.

    Alabi A.
    NG
    Alabi A.

    i don't no the account to pay for certificate

    Adil N.
    MA
    Adil N.

    What is prepaid revenue?

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