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Prepaid Insurance - Hello all how are you? today I will share to you all the information regarding the assurance.what discussed again about the insurance I will discuss and review prepaid insurance .Prepaid expenses are future costs that have been paid for in advance . You can think of prepayments as expenses that have been paid but has not been used or has not expired . Payment is made in advance in return for insurance services to be provided during a certain period of time . A person or entity who purchased so-called prepaid insurance policy holders . number of prepaid expenses are not over yet reported on the company's balance sheet as prepaid asset assurance
A current assets that indicates the cost of the insurance contract ( premium ) which has been paid in advance . This is the amount that has been paid but not yet ended ended neraca.BECAUSE amount , the asset is reduced and the load recorded for the amount of the reduction . Therefore , the balance of the unexpired expense reports and income statement expense report expired . The amounts reported in the income statement should be related to the number of time intervals indicated in the title of the statement .
A common prepayments are six -month premium for insurance on company vehicles . Because insurance companies require payment in advance , they are responsible for any deductibles should an insurance claim filed . It is recorded as short-term assets or prepaid load in company books .
Discuss And Review Prepaid Insurance - amount paid often recorded under current assets Prepaid insurance . Insurance must report the number of expired insurance expense during the period indicated in the title paidgo profit more clarity on insurance please read - read this blog .This blog has a lot of information about the world of information about insurance .That's the article that discusses and review prepaid insurance may be useful to you all
Discuss And Review Prepaid Insurance
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