On August 31, 2021, A company paid an insurance premium covering the period from August 31, 2021 to June 30, 2022 in the amount of P55,000. The accounting period ends December 31, 2021. What is the amount of insurance expense at the end of December 31, 2021? O 18,333.33 36,666.67 O 22,000 O 33,000 None of the above
On August 31, 2021, A company paid an insurance premium covering the period from August 31, 2021 to June 30, 2022 in the amount of P55,000. The accounting period ends December 31, 2021. What is the amount of insurance expense at the end of December 31, 2021? O 18,333.33 36,666.67 O 22,000 O 33,000 None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On August 31, 2021, A company paid
an insurance premium covering the
period from August 31, 2021 to June
30, 2022 in the amount of P55,000.
The accounting period ends
December 31, 2021. What is the
amount of insurance expense at the
end of December 31, 2021?
O 18,333.33
O 36,666.67
O 22,000
33,000
O None of the above
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