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Accrued revenue

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    BabaJide Martins F.
    TR
    BabaJide Martins F.

    Rent and salary stand as accrued revenuse because they fall under expenses.

    Alice B.
    GQ
    Alice B.

    Yes we take rent and salary as accrued (expenses) because they fall under expenses.

    Morne V.
    ZA
    Morne V.

    An asset class for goods or services that have been sold or completed but that have not yet been billed and/or paid for

    Sunday O.
    NG
    Sunday O.

    Accrued revenue

    Odongo M.
    UG
    Odongo M.

    Accounting -> Accrued revenue Accrued revenue Revenue may be owing (accrued). Accrued revenue In this example, rent of $2000 has been received with $400 owing. The accrued revenue is a current asset. General journal Date Accounts Debit Credit 31 Mar. Accrued rent revenue 400 Rent revenue 400 Rent revenue owing 31 Mar. Rent revenue 2 400 Profit and Loss a/c 2 400 Rent revenue posted to Profit and Loss a/c 1 Apr. Rent revenue 400 Accrued rent revenue 400 Reversing entry In the ledger Rent revenue 31 Mar. Bank 2 000 31 Mar. Profit and Loss a/c 2 400 Accrued rent revenue 400 2 400 2 400 1 Apr. Accrued rent revenue 400 Accrued rent revenue 31 Mar. Accrued rent revenue 400 1 Apr. Accrued rent revenue 400 Profit and Loss account 31 Mar. Rent revenue 2 400

    Adil N.
    MA
    Adil N.

    Is accrued revenue a current asset?

    Gloria N.
    AE
    Gloria N.

    ok

    Lazarous M.
    ZW
    Lazarous M.

    correct.

    Ibrahim Ayad A.
    TR
    Ibrahim Ayad A.

    لاحظت

    Baseli Gloria S.
    BW
    Baseli Gloria S.

    An asset class for goods or services that have been sold or completed but that have not yet been billed and/or paid for.

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