what adjusting entry is needed 555449
On October 1, 2011, the $12,000 premium on a one-year insurance policy for the building was paid and recorded as Prepaid Insurance. On December 31, 2011 (end of the accounting period), what adjusting entry is needed?
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a. Insurance Expense ( + E) Don't use plagiarized sources. Get Your Custom Essay on
what adjusting entry is needed 555449
For $10/Page 0nly
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2000 |
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Prepaid Insurance ( – A) |
2000 |
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b. Insurance Expense ( + E) |
3000 |
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|
Prepaid Insurance ( – A) |
3000 |
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|
c. Prepaid Insurance ( + A) |
3000 |
|
|
Insurance Expense ( – E) |
3000 |
|
|
d. Prepaid Insurance ( + A) |
9000 |
|
|
Insurance Expense ( – E) |
9000 |
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