Definition:A prepaid expense is the prepayment of services before they are received. In other words, it’s a resource that is paid for in advance of actually receiving the resource. What Does Prepaid Expenses Mean? Contents[show] Since the matching principles requires that all expenses be matche...
The initial journal entry for a prepaid expense does not affect a company’s financial statements. For example, refer to the first example of prepaid rent. The initial journal entry for prepaid rent is a debit to prepaid rent and a credit to cash. These are both asset accounts and do not...
4. What is Prepaid Expense Amortization? 5. Are Prepaid Expenses a Credit or Debit? 6. What is the Effect of Prepaid Expenses on Financial Statements? 7. Why Can't Prepaid Expenses be Deducted Straight Away? 8. Does it Make Sense to Prepay and Expense? 9. What is Prepaid Expense vs ...
An asset created by prepayment of an expense is___.? recorded as a credit to an unearned revenue accountrecorded as a debit to an unearned revenue accountrecorded as a credit to a prepaid expense accountrecorded as a debit to a prepaid expense account相关知识点: 试题...
A prepaid expense (also known as prepayment) is a payment made in advance for an expense that hasn’t occurred yet. But what does it mean for an expense to occur? On the accrualbasis of accounting, expenses get recognized when they are used, consumed, utilized, or have expired, not when...
Definition:Deferred expense, also called a prepaid expense, is a cost that has been incurred but is recorded as an asset until the related goods or services are consumed. In other words, money has been spent on goods or services in the current period, but the goods and services have not ...
Item 1: This item is a prepaid expenses and not properly recorded.Half of this expenses should be charged to the repair and maintenance account in the current year, half of this expenses should be deferred to next year.Item 2: This item is properly charged the account, because that is for...
Before a balance sheet is prepared, the accountant must review the deferrals/prepaids and move the appropriate amounts to expense. Difference between Deferred Expense and Prepaid Expense It appears that most accountants refer to the deferrals that will become expenses within one year of the balance...
待摊费用(prepaid expense):现金已经付出,但费用不能马上全部确认,而是应在一定期限内分摊费用。例如,预付了一年的房租,但只能在经过一个月后才能确认当月的租金费用。 应计收入(accrued revenue):企业已经提供产品或服务,但现金还没有收到,最典型的例子就是以“赊销”的方式向下游客户出售商品而形成的应收账款。应...
百度试题 结果1 题目An adjusting entry could be made for each of the following except: A. Prepaid expenses. B. Depreciation. C. Owner withdrawals. D. Unearned revenues. E. Accrued revenues. 相关知识点: 试题来源: 解析 A. B. D. E.反馈 收藏 ...