What is the treatment you give for the prepaid insurance
created in the year end in the month of April
- 3 Answers
- 4663 Views
- Tax Time, I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
What Question ask in MARKIT Company?
What is the meaning of Receipt & Payment, Income & Expenditure, Profit & Loss A/c? Under What cercumstances these are prepared?
write about an e-mail to manager seeking permission for leave
Clasify Loss
If in a PO, the freight condition is mentioned as Air freight and the material is actually received by Road, how does the system check before making the necessary accounting entries?
Accounting related interview questions on ibm
plz send all previous question papers for SBI clerical post.My email id is mechabhilash6@gmail.com
HOW TO PASTE MORE THAN 8 PO'S (PURCHASE ORDER) IN MM posting?
Expand---------DBPC
1.tell about urself? 2.wt is BRS? 3.VAT? 4.Golden principle of accounting?
purchase car from toyota innova 50000 cheque from one firm and 449893 from other firm.... and 1350000 loan saction from kotak mahindra.....how can entry make with interest
I have scooter , and its insurance expired for the past 1 yrs and i need to renew it ? how to , explain?
In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping
which are the basic princeples of accountancy... with examples
intorduse your self ? what to say if iam fresher.
