Lic paid
how to show in books the LIC premium paid ??????? it is Balance sheet item or P&L item ???????
thnx
preet
If proprietorship business- then need to show as drawings under capital
If company- LIC paid for employees then debit as employee cost
thnx
preet
what about mediclaim policy ????
it should expenses or same invetment in his own books???
& when we hv bn reimbursed(money received) with the medclaim how to treat it ????????
these are always capital items.. which should b taken as drawings.. and i
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