Nasirs financial year ends of 31 December. On 1 April 209 she paid $1,800 for one years

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Nasir’s financial year ends of 31 December. On 1 April 20–9 she paid $1,800 for one year’s insurance on new premises.

What entry would be made for insurance in the statement of financial positon on 31 December 20–9?

A. $450 Asset

B. $450 Liability

C. $1,350 Asset

D. $1,350 Liability

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Cambridge IGCSE And O Level Accounting Coursebook

ISBN: 9781316502778

2nd Edition

Authors: Catherine Coucom

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Question Posted: Sep 15, 2021 05:53 AM

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Nasirs financial year ends of 31 December. On 1 April 209 she paid $1,800 for one years

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D 1350 Liability When Nasir paid for the insurance on 1 April 209 it would be recorded as a pr...View the full answer

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