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At 1st July 2007 a company had prepaid insurance of $ 8200. On 1st jan 2008 the company paid $38000 for insurance for the year to 30th sept 2008…. Required: what figure should appear for insurance in Profit and Loss for the year ended june 2008
Do not set test questions here and expect an answer.
You must have an answer in the same book in which you found the question and so you should ask about whatever it is in the answer that you do not understand. Then I will try my best to help you.
I obviously assume that you have watched my free lectures on accruals and prepayments?
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