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Standard XII

Accountancy

Debenture Redemption Reserve

Ascertain the...

Question

Ascertain the amount of prepaid expense if insurance of Rs. 10000 paid for one year ending on 30.06.2018 and firm closes the books on 31.03.2018.

5000

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4500

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2500

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2000

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Solution

The correct option is A 5000
Amount of Prepaid expense for year ending 30th june ,2018
= 10000 * 3 / 6
= 5000

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Ascertain the amount of prepaid expense if insurance of Rs. 10000 paid for one year ending on 30.06.2018 and firm closes the books on 31.03.2018.

The correct option is A 5000Amount of Prepaid expense for year ending 30th june ,2018 = 10000 * 3 / 6= 5000

The correct option is A 5000
Amount of Prepaid expense for year ending 30th june ,2018
= 10000 * 3 / 6
= 5000