Journal Entry for Insurance Premium Paid in Advance
In this article, part of our accounting tutorial series, we review the journal entry required when an insurance premium is paid in advance. We have a quick look at what … Read More
Tag: prepaid expenses
Is Prepaid Rent an Asset or Liability?
Not an uncommon question we see come up around prepaid rent is the question of “is it asset or a liability?”. This of course depends on whether you are the … Read More
Type of Account and Balance of Prepaid Insurance
Prepayments or prepaid expenses are one of the four main balance day adjustments that an accounting student needs to learn in their progress through any accounting syllabus: the others being … Read More