Question

Prepaid Insurance 10,000 and Accrued commission 12,000. Prepaid Insurance an
Accrued commission are subject to levy of GST 6% each. what is the treatment of this adjustment
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Answer 1

Answer:

gst is only levy accrued commission not in prepaid insurance because it is prepaid which means pai in advance that is the payment of the next year it means gst is always levy in next year

that was why only gst is levy in accrued commission