prepaid insurance entry
This query is : Resolved
16 September 2014
prepaid insurance a/c....dr (for current year)
insurance a/c...........dr( adv pyment )
to bank a/c
insurance a/c...........dr( adv pyment )
to bank a/c
Message likes :
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16 September 2014
but sir how i am adjust this amount
if i am paid 17977 on 26.03.2014 to insurance company
if i am paid 17977 on 26.03.2014 to insurance company
16 September 2014
prepaid insurance will be in ur bal sheet for current year and next year u wont pay so entry will be :
insurance exp a/c.............dr
to prepaid insurance a/c
then prepaid a/c will have no balance
insurance exp a/c.............dr
to prepaid insurance a/c
then prepaid a/c will have no balance
Message likes :
1 times
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