When do you adjust the amount of prepaid expenses?
The balance in the current asset account Prepaid Expenses should be adjusted prior to issuing a company's financial statements. If the company issues financial statements for each calendar month, you will need to adjust the balance in Prepaid Expenses as of the end of each month. If your company issues only quarterly financial statements, you […]
Sent from Rebecca Parrott Tatum, CPA's iPhone
No comments:
Post a Comment