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What is the journal entry for insurance premium?

Anonymous

∙ 14y ago

Updated: 9/18/2023

Insurance acc Dr 1000

Cash acc Cr 1000

P&L acc Dr 1000

To insurance acc Cr 1000

Wiki User

∙ 14y ago

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What is the journal entry for payments of insurance premium?

debit insurance premium expensecredit cash / bank

What is the journal entry for paid insurance premium?

debit insurance premiumcredit cash / bank

What is the journal entry for life insurance policy premium paid for proprietor?

debit insurance premiumcredit cash / bank

What is the journal entry for life insurance policy premium paid?

Life insurance a/c......... Dr to cash a/c

What is the journal entry for advance insurance premium paid in cash?

prepaid insurance a/c..........dr. To insurance a/c

Related Questions

What is the journal entry for payments of insurance premium?

debit insurance premium expensecredit cash / bank

What is the journal entry for paid insurance premium?

debit insurance premiumcredit cash / bank

What is the journal entry for life insurance policy premium paid for proprietor?

debit insurance premiumcredit cash / bank

What is the accounting journal entry to record financed annual insurance premium?

Debit annual insurance premiumCredit cash / bank

What is the journal entry for advance insurance premium paid in cash?

prepaid insurance a/c..........dr. To insurance a/c

What is the journal entry for life insurance policy premium paid?

Life insurance a/c......... Dr to cash a/c

What is the journal entry for share premium?

debit cashcredit share capitalcredit share premium

WHAT is the journal entry to record yearly accrued insurance exp?

debit accrued insurance expensecredit insurance payable

What is the journal entry for -paid life insurance of the proprietor?

When life insurance premium of the proprietor is paid by the business, it is treated as a personal expense, not a business expense. Journal Entry Proprietor’s Capital A/c Dr To Cash / Bank A/c Explanation: Life insurance of the proprietor is a personal expense. It is debited to Capital Account, not to Profit & Loss Account. Cash/Bank is credited because payment is see more ln.run/s_U4k

What entries are posted on a capital project Fund?

premium remained in capital projects fund, is there an journal entry for this

What is the journal entry of insurance paid in advance?

debit prepaid insurancecredit cash / bank

What is the journal entry for insurance policy was paid for a year?

debit prepaid insurancecredit cash

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