A corporate prepaid expense
card program helps business owners limit individual employee expenses by dollar amount and merchant category (fuel, dining, retail and so on).
The purchase of non-current assets (breeding livestock, machinery and equipment, perennial crops, buildings and improvements, and leased assets) is another type of prepaid expense
. Unlike feed or insurance, non-current assets last longer than a few months or a year.
When converting from the cash basis income to accrual basis income, depreciable assets are treated essentially the same as prepaid expenses
because depreciable fixed assets represent long-term prepayments (deferrals).
These contract expenses were prepaid expenses
The acquisition of MAC includes the acquisition of accounts receivable, inventory, prepaid expenses
, and machinery and equipment, and was funded under the company's newly expanded credit facility.
The acquisition of Indiana Transport included the acquisition of accounts receivable, prepaid expenses
, machinery and equipment, and real estate and was funded under the Company's existing credit facility.
COMBINED STATEMENT OF FINANCIAL POSITION ASSETS CURRENT ASSETS Cash and cash equivalents $ 110,791 Investments 1,199,671 Accounts receivable, net of allowance For doubtful accounts of $1,395 33,580 Grants receivable 14,500 Inventory 63,292 Prepaid expenses
7.229 Total Current Assets $1,429,063 PROPERTY AND EQUIPMENT.
and deferred charges 357,810 * 238
There still remains $5.0 million of cash in the escrow account, which is classified as prepaid expenses
in the consolidated balance sheet as of April 30, 2012.
ASSETS Current Assets Cash and cash equivalents $346,453 Investments 7,269,653 Accounts receivable 20,547 Inventory 171,783 Prepaid Expenses
40,283 Deposits 10,452 Total Current Assets 7,359,171 Non-Current Assets Equipment, net of accumulated deprecation 21,725 Total Assets $7,330,396 LIABILITIES Accounts payable $50,238 Accrued vacation 50,679 Funds held in trust for other organization 130,319 Unearned membership fees 303,345 Other deferred revenues 7,623 Total Liabilities 592,204 NET ASSETS Unrestricted 7,288,692 Total Liabilities and Net Assets $7,880,896 Statement of Activities for the Year Ended December 31, 2007 See the accompanying notes to financial statements.
for Sale, Prepaid Expenses
, Cash Investment in Growing Crop, Breeding
* Disclosures Related Primarily to the Statement of Financial Position (includes examples of investments, contributions receivable, other receivables, inventory and prepaid expenses
, collections, fixed assets, liabilities and net assets)