Question: Please Help Question 4 The Square Wheels Garage pays fire insurance annually in advance on 1 June each year. The firm's financial year end is

Please Help Question 4 The Square Wheels Garage pays fire insurance

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Question 4 The Square Wheels Garage pays fire insurance annually in advance on 1 June each year. The firm's financial year end is 28 February. Insurance paid: 1 June 2016 - 1,800 1 June 2017 - 1,800 From the record of insurance payments, you are required to calculate the charge to statement of profit and loss for the financial year to 28 February 2018 and also calculate the prepaid insurance premium on same date. Show insurance expenses account

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