## Answers

**ANSWER:**

**(a)March'15 recording on Balance Sheet for Prepaid Insurance Policy:**

**Assets**

**Prepaid Insurance - 1,200**

**(b)April'30 recording on Balance Sheet for Prepaid Insurance Policy:**

As the Prepaid for a month have been realised, an amount of INR 1,200/12 = 100 would be recorded on the expense side i.e. Liability side of the balance sheet

**Liabilities**

**Insurance Expense 100**

Comment below in case of any doubts

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