We explain how to adjust for a prepaid expense during the financial year. Accounting theory covering the prepaid expense adjustment. Prepayments will create an asset account. Apply the most important rules to a prepaid expense adjustment. For more content visit the website: http://www.creativosolutions.com/ YouTube channel: https://www.youtube.com/c/creativosolutions Instagram: https://www.instagram.com/creativosolutionspublic/?hl=en Soundcloud: https://soundcloud.com/user-301604869-194340999 Twitter: https://twitter.com/creativo_s Music by: Melange by AnvionMusic https://soundcloud.com/anvionmusic Creative Commons — Attribution-ShareAlike 3.0 Unported— CC BY-SA 3.0 http://creativecommons.org/licenses/b... Music provided by Audio Library https://youtu.be/LqVfbijhslA