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What is the journal entry for insurance premium payment of a
company
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Whats new in it Just like other payment entries
Insurance a/c dr
To Cash/bank a/c
(being insurance premium paid)
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favourite WebSite http://therealaccountants.com
| Is This Answer Correct ? | 173 Yes | 23 No |
Insurance a/c dr
To cash/bank a/c
(Being paid insurance premium paid)
| Is This Answer Correct ? | 110 Yes | 17 No |
Answer / santosh wagh
if the Insurance paid for next financial year than entry
will pass
Prepaid Exp A/c Dr
To Insurance Exp
| Is This Answer Correct ? | 70 Yes | 21 No |
Whats new in it Just like other payment entries
Insurance a/c dr
To Cash/bank a/c
(being insurance premium paid)
To know more about accountancy and taxation Pl Visit my
favourite WebSite http://therealaccountants.com
| Is This Answer Correct ? | 39 Yes | 9 No |
Answer / karim
Prepaid Insurance Dr 10000
Bank Cr 10000
Every Month End
Insurance Dr 834
Prepaid Insurance 834
| Is This Answer Correct ? | 5 Yes | 2 No |
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