Accounting principles | business valuation | topics | career center | dictionary | accounting Q & A | quizzes | about us

Popular Accounting Topics

Accounting for Merchandising Activities
Debits and Credits (Double Entry Accounting)
Time Value of Money & Present/Future Values
Complex Debt & Equity Instruments
Common Stock & Shareholder's Equity
Accounting & Finance Ratios
Valuing Common Stock
Corporate Income Taxes
Lower of Cost or Market (LCM) & Inventory Valuation
Chart of Accounts & Bookkeeping
Bonds Payable & Long Term Liabilities
Capital Assets

What category of browser are you on this website?

Accrued Revenues

Revenues earned in a period that are both unrecorded and not yet received in cash (or other asset); adjusting entries for recording accrued revenues involve increasing (debiting assets and increasing (crediting) revenues. E.g. assume a company has not received $5,000 of its consulting receivable from its customer yet although the service has been performed. The accrued revenue entry at the end of January 31st would be:

Dr. Accounts Receivable $5,000
Cr. Consulting Revenue $5,000

>> More Accounting Terms & Glossary?

© Accounting Scholar | Privacy Policy & Disclaimer | Contact Us