Prepaid insurance for car

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166 Points Posted on 25 May 2023
prepaid insurance of car is capital or expenduture, pls explain
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On 25 May 2023 at 09:57 Report
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Quick Summary
Prepaid car insurance is considered a capital expenditure. This means it's treated as an asset and appears on the asset side of your balance sheet. It's essentially an advance payment for future insurance coverage.

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GST Practitioner & Accounts
15150 Points Posted on 25 May 2023

Prepaid Insurance for  Car  is Capital expenditure, and will be shown Asset side - Balance sheet.

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On 25 May 2023 at 10:14
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Profession
28271 Points Posted on 25 May 2023
To the extent it is shown as advance.
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On 25 May 2023 at 18:26

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