accounting

posted by .

If a company purchases a 12-month insurance policy for $3600, what journal entry would be prepared to record the purchase? At 6 months? At year end?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. accounting

    I have to prepare an adjusting entry for Dec 31, 2008 for prepaid insurance from this: An analysis of the company's insurance policies provided these facts: Policy A Purchased on April 1, 2007 for 24 month at $11400. Policy B Purchased …
  2. ACCOUNTING plz help thnx

    I have to prepare an adjusting entry for Dec 31, 2008 for prepaid insurance from this: An analysis of the company's insurance policies provided these facts: Policy A Purchased on April 1, 2007 for 24 month at $11400. Policy B Purchased …
  3. ACCOUNTING

    I have to prepare an adjusting entry for Dec 31, 2008 for prepaid insurance from this: An analysis of the company's insurance policies provided these facts: Policy A Purchased on April 1, 2007 for 24 month at $11400. Policy B Purchased …
  4. accounting and finance

    unadjusted trial balance (December 31,2008): Prepaid insurance $3600 Adjusting entry question: 18 months of preperty insurance was purchased on Sept 1 2007 at a cost of $3600.
  5. accounting and finance

    unadjusted trial balance (December 31,2008)(Bed Bugs R Us Ltd.): Prepaid insurance $3600 Adjusting entry question: 18 months of preperty insurance was purchased on Sept 1 2007 at a cost of $3600
  6. Accounting

    On April 1, 2009, the company paid an insurance company $5,000 for a two-year fire insurance policy. The entire $5,000 was debited to insurance expense. What is the Dec. 31, 2009 adusting journal entry?
  7. accounting

    A company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. A perpetual inventory system is used. The following transactions were completed by the company during the current …
  8. accounting I

    What would be the journal entry to record: Sept 28, 2009 A dividend was declared, which they intend to pay at $0.10 per share by the end of the year. The company has 25,000 shares of capital stock
  9. accounting

    identify assumptions and concepts and correct entries. On December 31, SGI Company's fical year end, a 12-month insurance policy for the following year was purchased. The following entry was made: DR. insurance expense $24000 CR. cash …
  10. accounting

    Assume ABC merchandize company purchase merchandize and 680000 on April 2016. A) Record the journal entry. B) Assume ABC purchase on account ( credit) and record the journal entry. C) Assume that the company purchase in terms of n/30 …

More Similar Questions