From Business: US Coachways offers an extensive selection of vehicles such as 24 passenger charter buses, 49 passenger charter buses, 56 passenger charter buses, party buses. Weâ¦
May 16, 2017/. Prepaid dues are fees paid to a membership organization, covering a time period that has not yet expired. The amount of these dues is recorded in a current asset account (such as prepaid expenses or a separate prepaid dues account). As each successive month in the coverage period expires, a proportionate amount of the prepaid dues is charged to expense.
A prepaid expense is an advance payment made with a reasonable, certain anticipation of a future expense. Because the advance payment is for a future expense that has not occurred, it is classified as a current asset on the balance sheet of a business. Quarterly tax estimates, insurance premiums and retainer fees are among the pre-paid expenses often found on a company's balance sheet and reconciled on a monthly basis.