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Q. Annual insurance Rs. 12,000 is …

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Q. Annual insurance Rs. 12,000 is always paid on 1st July and books of club are closed on 31st March. What amount of insurance will be debited to income & expenditure a/c?

    • Posted by Archi Khandelwal 5 years, 10 months ago

    CBSE > Class 12 > Accountancy
    • 2 answers

    Archi Khandelwal 5 years, 10 months ago

    Thanks?

    0Thank You

    Aman Talreja 5 years, 10 months ago

    The answer is 9000 As 12000×9/12 =9000 12000-9000=3000 is prepaid As insurance is paid in july till march i.e 9 months

    1Thank You

    ANSWER
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