Question: Question 3 --/5 Swan Ltd started the year with a prepayment balance b/d of 2,800 on their building insurance account. The expense for the year

Question 3 --/5 Swan Ltd started the year with a prepayment

Question 3 --/5 Swan Ltd started the year with a prepayment balance b/d of 2,800 on their building insurance account. The expense for the year in the Statement of Profit or Loss was 50,000. If they paid 52,000 for insurance in the year, the prepayment carried down at the end of the year was: 800 1 2 2000 3 2800 4 4800

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