Accountancy, asked by tanishqjain1526, 4 months ago

how this adjustment has been done in trading and profit and loss a/c and in balance sheet as well.
Correct answer needed
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Answered by sangeeta9470
1

Answer:

insurance of ₹ 170for a policy expires on 30 sept. 2016 but books close on 31 mar. 2016 so 6 months from April to September lies in next year so 6 months premium is prepaid

170*6/12 = 85

in profit and loss 85 subtract from 600

and 85 shown in assets side

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