This document provides information about prepaid insurance policies for Jimin Company, including the amounts paid, coverage periods, and a template for calculating insurance expense and prepaid insurance amounts for the financial statements for years ending 2020 through 2023. Jimin Company paid $7,440 for a policy with coverage from April 2020 to March 2021, $12,000 for a policy with coverage from July 2020 to July 2022, and $16,200 for a policy with coverage from November 2020 to October 2023.
This document provides information about prepaid insurance policies for Jimin Company, including the amounts paid, coverage periods, and a template for calculating insurance expense and prepaid insurance amounts for the financial statements for years ending 2020 through 2023. Jimin Company paid $7,440 for a policy with coverage from April 2020 to March 2021, $12,000 for a policy with coverage from July 2020 to July 2022, and $16,200 for a policy with coverage from November 2020 to October 2023.
This document provides information about prepaid insurance policies for Jimin Company, including the amounts paid, coverage periods, and a template for calculating insurance expense and prepaid insurance amounts for the financial statements for years ending 2020 through 2023. Jimin Company paid $7,440 for a policy with coverage from April 2020 to March 2021, $12,000 for a policy with coverage from July 2020 to July 2022, and $16,200 for a policy with coverage from November 2020 to October 2023.
This document provides information about prepaid insurance policies for Jimin Company, including the amounts paid, coverage periods, and a template for calculating insurance expense and prepaid insurance amounts for the financial statements for years ending 2020 through 2023. Jimin Company paid $7,440 for a policy with coverage from April 2020 to March 2021, $12,000 for a policy with coverage from July 2020 to July 2022, and $16,200 for a policy with coverage from November 2020 to October 2023.
Prepaid Insurance Jimin Company paid for the following insurance policies in advance: Insurance policies Amount Date paid and started Date of end of coverage Policy M P 7,440 April 1, 2020 March 31, 2021 Policy N 12,000 July 30, 2020 July 30, 2022 Policy L 16,200 November 1, 2020 October 31, 2023
Compute for the amounts to be reported in the financial statements as insurance expense and prepaid insurance.
Calculations for Calculations for
INSURANCE EXPENSE PREPAID INSURANCE Financial Statements as at and M ____ X ___ = _______ Beg. Balance _________ for the year ended N ____ X ___ = _______ Add: Payments _________ DECEMBER 31, 2020 L ____ X ___ = _______ Less: Expired _________ Total _______ End. Balance _________
Financial Statements as at and M ____ X ___ = _______ Beg. Balance _________
for the year ended N ____ X ___ = _______ Less: Expired _________ DECEMBER 31, 2021 L ____ X ___ = _______ End. Balance _________ Total _______
Financial Statements as at and M ____ X ___ = _______ Beg. Balance _________
for the year ended N ____ X ___ = _______ Less: Expired _________ DECEMBER 31, 2022 L ____ X ___ = _______ End. Balance _________ Total _______
Financial Statements as at and M ____ X ___ = _______ Beg. Balance _________
for the year ended N ____ X ___ = _______ Less: Expired _________ DECEMBER 31, 2023 L ____ X ___ = _______ End. Balance _________ Total _______
