Product Overview. Sta-Kool 770 Ultra White Elastomeric Roof Coating is a tough, highly flexible, rubberized roof coating. This high-performance, 7-year warranted elastomeric roof coating resists cracking and peeling. The coating also provides a highly protective barrier which reflects the sun's heat and destructive UV rays.
unearned revenue(s) A liability account that reports amounts received in advance of providing goods or services. When the goods or services are provided, this account balance is decreased and a revenue account is increased. To learn more, see Explanation of Adjusting Entries.
A transportation company contracts to provide services to an after-school program for a fee of $24,000, and is paid $12,000 as half of the fee. The $12,000 in unearned service revenue is recorded as a liability on the income statement, and the appropriate portion entered as revenue after each completed month of service.Companies often create a separate category on income statements for unearned revenue.nearned service revenue must be recorded, but it is not entered as revenue on the income statement. Cash received for services that have not been provided is not considered true revenue until the income is earned.