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How to Record Adjusting Entries for Prepaid Expenses and Unearned Revenue
Автор: Wild Accounting
Загружено: 2022-05-18
Просмотров: 6401
Описание:
In this video, I'm going to explain prepaid expenses and unearned revenue. These are both types of adjustments that affect the income statement and the balance sheet. Prepaid expenses are costs that have been paid in advance, but have not been used up yet. Unearned revenue is income that has been received in advance, but has not been earned yet. By the end of this video, you will be able to identify and record these adjustments correctly and understand how they affect your financial statements. Hit that subscribe button for more accounting tips!
Jonathan M. Wild
www.WildAccounting.com
#accounting #accountingbasics #journalentries #accountingstudent
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