Interested to Buy Any Domain ? << Click Here >> for more details...
What is the treatment you give for the prepaid insurance
created in the year end in the month of April
- 3 Answers
- 5848 Views
- Tax Time, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / saritha p.t
1.It will be deducted from concered expense(Insurance)in
Income Statement.
2. Show on the Asset side of Balance Sheet under the
heading "Insurance Prepaid"
Adjustment Entry:
Insurance Prepaid A/c DR.
To, Insurance A/c
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / mahendra rajput
Prepaid Insurance A/c... Dr.
To, Insurance A/c
And Prepaid Insurance is shown on Assets side in Balance sheet.
And when the time will occur to pay the same, below entry
would be passed.
Insurance Premium A/c... Dr.
To, Prepaid Insurance A/c
| Is This Answer Correct ? | 2 Yes | 0 No |
Are WCT applied on Labour supplied contractos ? If yes what percent
how can i make configration relation with inflation in sap
what in contingent liabilities
How is the expenditure of developing a modified product treated?
I gave cash advance of Rs. 70000 to one our enginner at site. He submitted only bills of 69000. Please tell me, how I can write these transaction in the Day book.
what is ment by memorandom of association?
14 Answers Capital IQ, Nestle,
capital reserve and revenue reserve
what are the balancesheet,profit& loss a/c,profit & loss aprrieation a/c format
what do mean by drawing?
EXPAND______________RTA
what is the sand box?
What is the difference between Pay order & DD ?
Audit 
