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

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

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

What is the formula for inventory landed costs? Thank you

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Originally Posted by gredbone60

what is the formula for inventory landed costs? thank you

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