Adjusting entries

breezy2390 · #1 Apr 17, 2008, 03:09 AM

Im Tryna Do My Adjusting Entry For This Problem It Says One Twelve Of Insurance Expired. They Paid 1800 For One Year Insurance Policy That Was Effective July First. So What Will Be My Adjusting Entry

MaggieMouse · Apr 17, 2008, 06:23 AM

Dr. Insurance Expense, Cr. Prepaid Insurance. Amount should be whatever the portion of the payment is.

banjoplayer · Apr 18, 2008, 06:09 PM

if the original amount is 1800...and ine twelth has be utilized hten the formula is as follows...1800 divided by 12 =150(1800-150=1650 remaining)

gredbone60 · Apr 18, 2008, 10:42 PM

what is the formula for inventory landed costs? thank you



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