[Debit] Prepaid Insurance
[Credit] Cash / bank
prepaid revenue is debited and revenue is credited
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.
Prepaid Rent is debited.
Prepaid Rent is debited.
Prepaid Rent is debited.
prepaid revenue is debited and revenue is credited
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.
Prepaid Rent is debited.
Prepaid Rent is debited.
Prepaid Rent is debited.
Prepaid Rent is debited.
debit insurance expense 10000 credit prepaid insurance 10000
Yes you can get insurance on prepaid phones.
Prepaid insurance is reported on the balance sheet as a
Dr: Prepayment to Suppliers (In Case of Expense, then "Prepaid expense" account will be debited e:g Prepaid Rent) Cr: Bank/Cash
insurance not yet paid
prepaid expense adjusting entries