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What is the journal entry for prepaid revenue?
prepaid revenue is debited and revenue is credited
Prepaid expense is debit balance or credit balance in cash flow statement?
Prepaid expense is a debit balance.... Explanation... increase in assets......debited decrease in assets ..........credited increase in liabilities ........credited decrease in liabilities..........debited Prepaids Expenses are current assets since future expenses have been covered. Accordingly, an increase to prepaid expenses is a debit.
When December rent is paid in November to which account is it debited?
Prepaid Rent is debited.
When December rent is paid in November it is debited to accounts?
Prepaid Rent is debited.
When December rent is paid in November which account is debited?
Prepaid Rent is debited.
What is the journal entry for prepaid revenue?
prepaid revenue is debited and revenue is credited
Prepaid expense is debit balance or credit balance in cash flow statement?
Prepaid expense is a debit balance.... Explanation... increase in assets......debited decrease in assets ..........credited increase in liabilities ........credited decrease in liabilities..........debited Prepaids Expenses are current assets since future expenses have been covered. Accordingly, an increase to prepaid expenses is a debit.
When December rent is paid in November to which account is it debited?
Prepaid Rent is debited.
When December rent is paid in November it is debited to accounts?
Prepaid Rent is debited.
When December rent is paid in November which accounts is it debited?
Prepaid Rent is debited.
When December rent is paid in November which account is debited?
Prepaid Rent is debited.
What is the proper adjusting entry based on a prepaid insurance account balance before adjustment of 14000 and unexpired insurance of 3000 for the fiscal year ending on April 30?
To adjust the prepaid insurance account, you need to recognize the amount of insurance that has expired during the fiscal year. Starting with a prepaid insurance balance of $14,000 and an unexpired insurance amount of $3,000, the expired insurance is $14,000 - $3,000 = $11,000. The proper adjusting entry would be a debit to Insurance Expense for $11,000 and a credit to Prepaid Insurance for $11,000.
What is the proper adjusting entry at April 30 the end of the fiscal year based on a prepaid insurance account balance before adjustment 16000 and unexpired amounts per analysis of policies 6000?
debit insurance expense 10000 credit prepaid insurance 10000
Can you get insurance on a prepaid phone?
Yes you can get insurance on prepaid phones.
Prepaid insurance is reported on the balance sheet as a?
Prepaid insurance is reported on the balance sheet as a
How do you journal entry prepay account?
Dr: Prepayment to Suppliers (In Case of Expense, then "Prepaid expense" account will be debited e:g Prepaid Rent) Cr: Bank/Cash
What is prepaid insurance?
insurance not yet paid
