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Annual Insurance Premium ₹ 8,000 is paid on 1st Dec 2018. Calculate the amount of Insurance Premium for the accounting year ending on 31st March 2019. |
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Answer» Annual Insurance Premium for 12 months = ₹ 8,000 Less: Prepaid for 8 months = ₹ 5,333 Insurance for 4 months (01.12.18 to 31.03.19) = ₹ 2,667 |
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