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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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