Here I have explained the concept of Prepaid Expense and it's accounting treatment in Profit and Loss Account and Balance Sheet in a simple way.

Prepaid Expense is also known as Deferred Expense. ( Prepayment )

I have shown how to pass Adjusting Entry and Reversing Entry with complete logical understanding.

⏱TIMESTAMPS
00:00 - Intro
01:11 - Recap of Previous Videos
02:56 - Prepaid Expense
14:03 - Practical Example : First Year
23:08 - Second Year
32:09 - Third Year
35:21 - Alternative Accounting Treatment by Bookkeeper

Adjusting Entries Concept
https://youtu.be/Z0LACfnMRds

Outstanding Expense
https://youtu.be/saJkcvVtik0

Download Adjusting Entries PDF
https://t.me/sahebacademy7/361

Basic Accounting Playlist
https://youtube.com/playlist?list=PLVjZhvcpvcGpzX-2re8U3MCVYbQzBWd06&si=oMk1Omek4cvA1Ios

This is for the students of CLASS 11, B.COM, BBA, CA FOUNDATION, CA INTER, CMA, ACCA and any other accounting courses.

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#Accountancy #FinancialAccounting #Class11