Fundamentals of accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2012
Amount of Rs 6000/- paid every year for the renewal of fire insurance policy of a company should be debited to P/L A/C or not? if not then what is to be done of it? Please Please Please help me some one...........
06 February 2012
Dear queriest
As the Company is paying every Year Insurance we need to check the purpose of paying every year if it related to single year than the same is debited to P&L A/c
For Eg. Motor Vehicle Insurance
Regards
Bharath Jain
As the Company is paying every Year Insurance we need to check the purpose of paying every year if it related to single year than the same is debited to P&L A/c
For Eg. Motor Vehicle Insurance
Regards
Bharath Jain
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