Question 14 Antamination of insurance policies of a company is presented below! POLICY ICOST LIFE POLICY DATE OF PURCHASE Settember 1, 2018 May 1, 2019 July 1, 2019 P37.000 P18.000 B 2 years 1 year P7000 Insurance expense was debited for the cost of each policy at the time of its purchase How much is the balance of the prepaid insurance at the end of 2019 o the choice Do not let this con Correct awww will be on the time of discussion OP167 PO Question 18 A Company records the payment of insurance policies in the prepaid insurance account. Information pertaining to 2018 follows: Prepaid insurance, January 1, 2018 P 50.000 Insurance expense P 20.000 Prepaid insurance, December 31, 2018 The cost of insurance acquired during 2018 was P 60,000 [Test choice Do not select this option Correct answer will be given on the time of discussion @ P30,000 OP10.000 OP90.000 Question 20 A Componentom Bank amounting to 360.000 on November 14, 2011 me date, the companied 13 rote to the tank. Upon doing of books De 31. 2018, the countant must preparadjusting for accederstood in the amount of Onnect to be on the 200 O PRO