is unearned revenue put on income statement
A company recognizes revenue when a sale is made or when the service is provided. Unearned revenue occurs when a company receives cash but has not yet provided the goods and services. Unearned revenue does not appear on the income statement with the companyâs other revenues. The income statement, also known as a profit and loss statement, indicates the income generated by a business over a period of time. The income statement contains a companyâs revenue, expense and income tax information.