ACCOUNTING Question 136?

At December 31, 2007, before any year-end adjustments, Bollis Company's Prepaid Insurance narrative had a balance of $2,700. It be determined that $1,500 of the Prepaid Insurance had expired. The adjusted be a foil for for Insurance Expense for the year would be



$1,200.



$1,900.



$2,700.



$1,500.

Answers:    $2,700
The adjusted balance of the insurance expense for the year would be $1500 because $1500 of the prepaid insurance be incurred.
If you meant the adjusted symmetry of the Prepaid Insurance it would be:
2700 - 1500 = $1200
1200 is the new adjusted symmetry

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