Not your question?
Ask your question
View similar questions
Add your answer here.Check out some similar questions!
Adjusting prepaid insurance
[ 1 Answers ]
I understand that for prepaid insurance is an asset and an expense adjustment must be made. I am being confused by a couple of detail in the equation. Prepaid Insurance Jan. 1 balance, company pays insurance on March 31, each year $3600, At Dec. 31, $600 is still prepaid. Can someone help me out.
Adjusting entry for prepaid expense
[ 1 Answers ]
If I am adjusting my prepaid expense, I would debit my prepaid expenses for the amount I'm adjusting but what would I credit? I know normally you would credit prepaid insurance or whatever the expense is for but I do not have an account of pre-paid insurance.. is there such a thing of making an...
Adjusting a prepaid acct
[ 1 Answers ]
The following transaction pertains to the 2007 accounting period. How would I make the following adjusting entry? 02/01 I rec'd 3600 of rent for one year paid in advance by a tenant. I am thinking Dr cash 3300 Cr prepaid rent expense 3300 Thanks
Prepaid Insurance Adjusting Entries
[ 1 Answers ]
Not sure exactly how to figure this or even to record it, here is what it looks like in my book: XX's accounting records include the following account balances: December 31, ... View more questions Search
|