Prepaid rent is an expense account, and hence it appears on the income statement.

Name: Prepaid rent is an expense account, and hence it appears on the income statement.
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Prepaid rent is an asset account, not an expense account. As a result, it appears on the balance sheet as a current asset, not on the income statement. The expense associated with prepaid rent is gradually reclassified from the balance sheet to the income statement over time as the asset is used up or the rent period expires.

Prepaid Rent Is an Expense Account, and Hence It Appears