just a question if someone could answer if you have access to the
"INSIGHT 2013 EXAM" , in relation to Q6C, where it says
"the prepaid insurance expense of $18,000 includes annual insurance of $15,000 (excluding GST) which was paid on 1st october 2012, for the next 12 months.
- show how the following ledger accounts would appear after this information has been posted:
prepaid insurance expense
insurance expense
** note for those who dont have the exam**- in the pre adjustment trial balance at 30th june 2013, prepaid insurance expensive is $18,000***
im not sure how to wor out the insurance expense amount where the answer is $14250probably something easy that i completely overlooked, but thanks in advance
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