How Prepaid Expenses Work | Adjusting Entries

💥Adjusting Entries Cheat Sheet →

Prepaid Expenses are one of the most common forms of Adjusting Entry in Accounting. In this video, you'll learn what a Prepaid Expense is, and I'll show how to account for them correctly, using Journal Entries and T Accounts.

I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...

▪ Intro to Adjusting Entries →
▪ Prepaid Expenses →
▪ Deferred Revenue →
▪ Accrued Expenses →
▪ Accrued Revenue →
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