What type of account is Prepaid Insurance? a. asset b. liability c. equity Accounts The financial activities of an organization are classified into different accounts. In order for the company to have an organize and accurate financial statements, they are named and categorized based ...
Prepaid insurance is considered a business asset, and is listed as an asset account on the left side of the balance sheet. The payment of the insurance expense is similar to money in the bank, and the money will be withdrawn from the account as the insurance is "used up" each month or...
分享到: 预付保险费账户 分类: 科技词汇|查看相关文献(pubmed)|免费全文文献 详细解释: 以下为句子列表: 分享到:
1) prepaid insurance premiums account 预付保险费帐户 2) prepaid advertising expenses account 预付广告费帐户 3) deposit premium 预付保险费 例句>> 4) advance account 预付帐户 5) U/A underwriting account 保险帐户 6) prepayments a/c 预付款帐户 ...
These payments in advance can be forequipment, supplies, rent, insurance,and anything else the business pays for before using it. What Type of Account is a Prepaid Expense? You may be thinking: a prepaid expense is an expense account, right? It’s in the name!
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The Prepaid Insurance account had a $ 6,800 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. analysis of insurance policies showed that $ 5,800 of coverage had expired. 预付保险账户在2017年12月31日有6800美元的借方余额,在调整任何过期保险的成本之前。
Prepaid Rent is a(n)account and has a normalbalance. A. asset; credit B. liability; debit C. asset; debit D. liability; credit Current Asset: Current assets are those resources expected to be utilized or consumed within one year or ...
The payment has already been made for 12 months but only the current month's premium is considered a current expense. The sum of the remaining 11 premiums is bucketed into a prepaid insurance account that's classified as a current asset on the balance sheet and in a working capital calculat...
Regardless of whether it’s insurance, rent, utilities, or any other expense that’s paid in advance, it should be recorded in the appropriate prepaid asset account. Then, at the end of each period, or when the expense is incurred, an adjusting entry should be made to reduce the prepaid...