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    gikkums7's Avatar
    gikkums7 Posts: 2, Reputation: 1
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    #1

    Aug 15, 2009, 11:00 AM
    Cash basis accounting
    How do I list on the balance sheet for cash basis accounting an asset of prepaid insurance
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Aug 15, 2009, 07:55 PM

    You wouldn't. If it's cash basis, you charge expenses when they are paid. So it would have gone straight into the insurance expense account and never have been an asset to begin with.
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