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Prepaid revenue

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    Wendy C.
    AU
    Wendy C.

    The prepaid revenue (payments mae in advance) is a current liability.

    Anton A.
    JM
    Anton A.

    What is prepaid revenue?

    Samuel F.
    ZA
    Samuel F.

    What Are Prepaid Expenses/Prepaid Revenues & How Are They Reported on the Balance Sheet?

    Harrison A.
    AT
    Harrison A.

    Prepaid revenues in other words, can be referred to as an advanced payment. In the case of every day operations, business will have to pay for goods or services before they are actually receive the product. If a jewelry store moved into a neighbourhood mall, it would mos likely have to sign a rent agreement and pay six to twelve months rent in advance. If the monthly rent was $1000 and the organisation or business prepaid for an entire year, they would put $12,000 on the balance sheet under prepaid expenses ($1,000 monthly rent multiplied by 12 months gives $12,000).

    Zachary B.
    US
    Zachary B.

    What is prepaid revenue?

    Zachary B.
    US
    Zachary B.

    What does prepaid revenue have to do wth balance day adjustments?

    Zachary B.
    US
    Zachary B.

    What is prepaid revenue?

    Zachary B.
    US
    Zachary B.

    What is prepaid revenue?

    Diamond T.
    US
    Diamond T.

    What Are Prepaid Expenses/Prepaid Revenues & How Are They Reported on the Balance Sheet

    Douglas R.
    US
    Douglas R.

    Prepaid revenue has some ups and downs that need to be watched.

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