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    peytonbreuner's Avatar
    peytonbreuner Posts: 1, Reputation: 1
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    #1

    Dec 12, 2012, 08:57 PM
    Overstated and understated accounts as a result of...
    If an insurance premium is accidentally recorded as an expense which accounts are overstated and which are understated?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Dec 13, 2012, 10:39 AM
    Insurance Expense and Prepaid Insurance. Now figure out how these flow through the Income Statement and Balance Sheet because these two accounts will affect other accounts as well.
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