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CASE: 1. Financial Year is Jan-XX to Dec-XX 2. Medical Insurance Annual Policy is from Jul-XX to Jun-XY 3. Total Value of Policy being SR120,000.00 payment terms being ... See More
Suppose salaries paid during the year2014 $10 salaries unpaid on31st Dec2013 $20 salaries prepaid on31st Dec2013 $500 salaries unpaid on31st Dec2014 $2200 salarie ... See More
The answer is No. It is not overstated. Justification: Insurance invoice was recorded/debited to prepaid control account as a balance sheet item and therefor it didn' ... See More
Prepaids and accruals relate to the services and goods a company receives from its vendors for which payment has been or will be made. Prepaid expenses are the advance pa ... See More
salaries paid during the year2014 $10 Less: salaries unpaid on31st Dec2013 $20 Add: salaries prepaid on31st Dec2013 $500 Add: sal ... See More