Dictionary » Letter P » prepaid rent
A current asset account that reports the amount of future rent expense that was paid in advance of the rental period. The amount reported on the balance sheet is the amount that has not yet been used or expired as of the balance sheet date.
| » For more clarity on this term: |
← Go Back |
Learn about our 2010 Master Accounting Download Package Now you can highlight, make notes, and study away from your computer.
|