Question
Which d the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $14,000 and unexpired Insurance of $3,000,
Which d the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $14,000 and unexpired Insurance of $3,000, for the fiscal year ending on April 30?
a. debt Insurance Expense, $14,000; credit prepaid Insurance, $14,000
b. debt Insurance Expense. $3,000; credit Prepaid Insurance, $3,000
c. debt Prepaid Insurance, $11,000; credit Insurance Expense, $11,000
d. debt Insurance Expense, $11,000; credit Prepaid Insurance, $11,000
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Prepaid insurance is the expenses of future to be incurred and paid in advance At the end of ...
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
IFRS 3rd edition
1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085
