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The prepaid insurance account for Darlinghurst Ltd had an opening balance of $4000 and a closing balance of $15 000. The following expenses and loss
The prepaid insurance account for Darlinghurst Ltd had an opening balance of $4000 and a closing balance of $15 000. The following expenses and loss were extracted from the statement of profit or loss: $ Bad debt expense 15 000 Insurance expense 9 000 Other expenses 198 000 Interest expense 25 000 Loss on disposal of land 18 000 Which of the following amounts would appear as a debit in the prepaid insurance account? Cash paid for insurance $9000 Closing balance $15 000 Insurance expense $9000 Cash paid for insurance $20 000
The prepaid insurance account for Darlinghurst Ltd had an opening balance of $4000 and a closing balance of $15 000. The following expenses and loss were extracted from the statement of profit or loss:
$
Bad debt expense 15 000
Insurance expense 9 000
Other expenses 198 000
Interest expense 25 000
Loss on disposal of land 18 000
Which of the following amounts would appear as a debit in the prepaid insurance account?
Cash paid for insurance $9000
Closing balance $15 000
Insurance expense $9000
Cash paid for insurance $20 000
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