Accountancy, asked by Samyra2211, 3 days ago

Insurance include annual premium of 170 on policy expiring on 31 Dec 2013

Answers

Answered by adityashaw02

Answer:

If it includes Insurance Premium for next accounting year then it will be prepaid insurance premium and two adjustment will be made one is it will be deducted from Insurance Premium in Profit and Loss A/C and another is it is shown in asset side of the Balance sheet.

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