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praveen_yadu
Oct 1, 2007, 11:25 PM
Where are adjust prepaid insurance in balance sheet show me this answer in details

manik chand dey
Jun 23, 2008, 09:09 PM
Prepaid insurance is treated like any other kind of prepaid expenses for the business, which the business has to pay normally in advance for a year ahead.Hence as the business has already paid the amount in advance and yet to receive any services from the insurance company, this amount is to be shown as an asset in the balance sheet of the business.