Unwarned income
Atharv Sankliya (1356 Points)
23 February 2023
expenses related to unwarned income is recognised in which year CY or when the income is earned ?
5 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 24 February 2023
Is it unearned income?
Dr Bank
Cr. Deferred revenue
In the same year.
Atharv Sankliya
(1356 Points)
Replied 24 February 2023
I am asking about the expenses related to unearned income
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 24 February 2023
If it is a project, and if it is borrowing costs, it will be apotalised. What kind of expenses are they.
Atharv Sankliya
(1356 Points)
Replied 24 February 2023
A company get a contract to supply 10000 kg of goods for 3 yrs unevenly how the revenue and expense is recognised
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 24 February 2023
Expense is purchase. If revenue is given in advance then
Dr. Bank
Cr. Deferred revenue
But if the revenue is givem on credit basis
Dr. Receivales/debtor
Cr. Sales account.
If they paid cash
Dr. Bank
Cr. Sales
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