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

    Jan 28, 2013, 10:27 AM
    Accounting Analysis of prepaid account balance
    The following information relates to action sign company for 20X2
    Insurance expense $4,350 prepaid insurance dec 20X2 $1,900 Cash outlays for insurance during 20X2 $6,200
    Compute the balance in the prepaid insurance account on January 1, 20X2
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jan 28, 2013, 11:53 AM
    Take your Prepaid account beginning balance and add your cash outlay minus your insurance expense to get your ending Prepaid account balance.
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