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Assuming that xyz limited a publishing company accepts 24 000 for a six month subscription an accountant records the amount as an increase in cash and an increase in unearned revenue.
Income statement example unearned revenue. At that time the unearned revenue will be recognized as revenue on your income statement. The most basic example of unearned revenue is that of a magazine subscription. And it is recognized as revenue on the company s income statement. This means that in 2019 there has been a cash inflow of 2500 as unearned revenue which had no impact on the income statement and has been recorded as a current liability in the balance sheet.
In each case the figure appears in the balance sheet. In 2019 unearned revenue account had a balance of 6500 whereas in 2018 it amounted to 4000. Here s an example of a balance sheet. When we register for an annual subscription of our favorite magazine the sales received by the company is unearned.
Unearned revenue is not a line item on this balance sheet. Examples of unearned revenue.
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