The amount paid by a business as premium on the owners life insurance is accounted as: (a)
Question:
The amount paid by a business as premium on the owner’s life insurance is accounted as:
(a) Debit Drawings account and credit Cash account
(b) Debit Insurance account and credit Cash account
(c) Debit Capital account and credit Cash account
(d) Debit Insurance account and credit Accruals account
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Debit D...View the full answer
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
3+ Reviews
10+ Question Solved
Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
Question Posted:
