Expired Insurance Debit Or Credit. Moon travel agency worksheet (partial) for the month ended january 31, 2018 account title trial balance adjustments adjusted trial balance debit credit debit credit debit credit cash 4,400 accounts receivable 400 prepaid insurance 600 equipment 4,100. 1/6 of $2,400) and will credit prepaid insurance for $400.
Supplies on hand on may 31 are $715. A debit to prepaid insurance and a credit to accumulated depreciation. Debit prepaid insurance, $1,380, and credit cash, $1,380.
On July 1, The Company Receives A Premium Refund Of $120 From The Insurance Company.
The adjusted ending balance of prepaid insurance is 2,535. Depreciation of office equipment for may is $330. Prepare the journal entry to reflect expiration of the insurance as of december 31, 2013.
A Debit To Accumulated Depreciation And A Credit To Prepaid Insurance.
Debit insurance expense and credit prepaid insurance, $7,000. The insurance expense account has $600 (debit) in the account and it is supposed to have $50 (debit) for one month’s expired insurance in the insurance expense account. A debit to prepaid insurance and a credit to accumulated depreciation.
Likewise, The Company Can Make Insurance Expense Journal Entry By Debiting Insurance Expense Account And Crediting Prepaid Insurance Account.
What is the adjusting entry for expired insurance? Accrued receptionist salary on may 31 is $325. Event general journal debit credit ,_ a.
Debit Prepaid Insurance And Credit Insurance Expense, $17,000.
The december 31, 2017 adjusting entry is a. Assume that part of accounts and other receivables on thompson toys' february 2, 20×7. After all debits and credits are posted to the general ledger, the prepaid insurance account will have a debit balance of $550 reflecting the cost of insurance policy that has not expired.
Car Insurance Is Set To Auto Renewal, And Payment Is Still Taken.
Question the trial balance columns of the worksheet for moon travel agency are as follows. Indicate if the balance is a debit or credit. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: