Prepaid insurance accounting problem please help.?

Prepaid insurance accounting problem please help.? the premium on a $75,000 fire insurance policy from January 1, 2010 to January 1, 2013 is $900. On December 30, 2010, there was a fire loss of $50,000, which was subsequently paid by the insurance company. What is the balance sheet value of the prepaid insurance on December 31, 2011? BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes RELATED: Budget/Avis is charging me $1100 for box truck roof damage I didn’t do but can’t prove. Should I just pay to not drag it through insurance? Last fall I was in a car… Read More

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