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Journal entry 12
A company has taken group insurance on the employees and paid ₹100000 plus GST on 1st march 19. pass journal entey as on 31st march. the insurance has a validity of 1 year from 1st march 19
Replies (2)
Quick Summary
Group Insurance premium account debit
prepaid group insurance premium debit
and credit bank account
the amount of prepaid is to be calculated on number of days from 1st March, 19 to 31st March, 19
prepaid expenses calculation must be from 1st April, 19 to March,20
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