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At 1 20X4acompany had prepaid insurance of$8,200. On 1 January 20X5 the company paid$38,000 for insurance for the year to 30September 20X5. What Figures should appear for insurance in the company’s financial statements forthe year ended 30June20X5?
SOPL SOFP
$27200. Prepayment $19000
$39,300. Prepayment $9500
$36,700 . Prepayment $9500
$9,500. Prepayment $9500
Sir here insurance paid cover for only jan -sep so 9 months therefore we should do 38000*6/9 for calculating charge to sopl right?
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