Question

insurance perimum paid 1.10.2019 and final accounts prepare for 31st December 2019 adjustments of this​

Answer 1

To Insurance

(+) Outstanding Insurance premium

Explanation:

For Eg. Insurance Premium paid 10,000.

10,000×2÷12 =1,666

To Insurance 10,000

(+) Outstanding Insurance 1,666

{Liabilities}

Outstanding Premium 1,666

I hope this will help you. Thanks