a local starbucks sells gift cards of $10,000 during the year. by the end of the year, customers have redeemed $8,000 of gift cards. what will be the year-end balance in the deferred revenue account?

Deferred revenue profit is plutocrat entered in advance for products or services that are going to be performed in the future. Rent payments entered in advance or periodic subscription payments entered at the morning of the time are common exemplifications of deferred revenue.

Calculating year end :

Year end balance of deferred account = gift cards during year - redeemed gift cards .

= $10,000 - $8,000

= $ 2000

Hence , the year end balance = $2000.

What's year end balance?

financial year- end balance The unexpended balance at the end of a financial year . These balances are generally calculated as total operating budget less total expenses.Year end – also known as an account reference date – is the completion of an account period. At this time, businesses need to carry out specific procedures to close their books.

Learn more about deferred revenue account :

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