How do you treat prepaid insurance in balance sheet?

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Rogers Feil asked a question: How do you treat prepaid insurance in balance sheet?
Asked By: Rogers Feil
Date created: Thu, Aug 26, 2021 8:59 AM
Date updated: Sun, Jun 26, 2022 9:49 AM

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Prepaid insurance is the portion of an insurance premium that has been paid in advance and has not expired as of the date of a company's balance sheet. This unexpired cost is reported in the current asset account Prepaid Insurance.

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