What is Management Fees Received In Advance
Management Fees Received In Advance or Unearned Management Fees or Prepaid Management Fees is a Current Liability for a Management Company which received it in advance but still not rendered the services at the end of the accounting period. It is shown on Liabilities & Equity side of Management Company’s Balance Sheet . Management Fees Received In Advance Journal Entry Following Journal Entry is passed in the Book of Management Company as shown below: Cash a/c XXX Management Fees Received In Advance a/c XXX ...