What is a prepaid expense? A prepaid expense is an amount paid for a good or service in advance of receiving that good or service. It is an expense that has been paid for before the actual expense is incurred. In accrual basis accounting, expenses are recognized in the period in which they occur.
International Home Foods. International Home Foods, was an American manufacturer, distributor and marketer of food products, acquired in June 2000 by ConAgra Foods in a $2.9 Billion dollar deal. Its best known brands were Chef Boyardee pasta products, PAM cooking spray, Bumble Bee Seafood, and Gulden's mustard.
Founded in 1999 in Florida, U.S., Hemisphere Foods LLC is an importer/wholesaler of frozen fruits and vegetables. It provides marketing, sales and logistical support to its many customers in the U.S. and Puerto Rico. Hemisphere Foods owns and operates Continental Foods S.A., a manufacturing facility in Cartagena, Colombia.