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    ans0629's Avatar
    ans0629 Posts: 1, Reputation: 1
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    #1

    Sep 11, 2009, 10:25 AM
    Adjusting prepaid insurance
    The balance in the prepaid insurance account before adjustment at the end of the year is 6175 journalize the adjusting entry required under each of the following alternatives for determing the amount of the adjustment 1. amount exprired during the year is 4180 2. amount of unexpired insurance applicialbe to future periods is 1995
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    #2

    Sep 11, 2009, 11:42 PM

    Please see the guidelines for posting homework problems:
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    pready Posts: 3,197, Reputation: 207
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    #3

    Sep 17, 2009, 05:50 PM

    1. This is telling you that the amount was used in the period.

    2. You need to calculate the amount of insurance used in the period.

    The accounts that are affected are Prepaid Insurance and Insurance Expense.
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