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How can a non-US resident with a 10-year entry visa get liability insurance in order to buy a car in the US?
Wiki User
∙ 14y ago
As long as you have a residence and a drivers license you should be able to get insurance.
Wiki User
∙ 14y ago
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What is journal entry for contingent liability?
the Journal entry for the above isRelated Expinditure DrContigent liability CR
What is backoffice?
we have work for insurance we receive scan copy by mail and fill all information witch is in certificate like policy no. policy period, coverage like general liability ,auto-liability .Mostly we do data entry.
How do you increase a liability?
A liability account is a credit account, and credit accounts can be increased by writing a credit in the journal entry. Therefore, a liability is increased by crediting it.
ER pays 12 EE pays 12 insurance How do you book this in an journal entry?
Assuming the employee paid via payroll deduction, most companies would post the P/R deduction as a credit to Insurance Expense (or a credit to a contra-account called something like Employee's Contributions to Insurance Expense) directly from the payroll entry. However, you could also post the P/R deduction credit to a liability account called Employee Insurance Payable. Then, when the insurance invoice was posted, half would be debited to Insurance Expense and half to the liability account. This would give you more cost control if you reconciled the payable account with each invoice.
How do you decrease a liability?
Liabilities are decreased by a debit entry...typically a cash payment (Dr. the liability; Cr. Cash)
Journal entry for contingent liability?
A contingent liability is a potential obligation that may arise in the future, depending on the outcome of a future event. It is documented in the financial statements as a disclosure rather than a recognition in the balance sheet. Contingent liabilities can include pending lawsuits, warranties, or product recalls, and their potential impact on the company's financial position should be clearly outlined in the journal entry.
What is the journal entry for unearned income?
debit unearned incomecredit services liability
What is the accounting entry for sales return under warranty?
The accounting entry for sales return under warranty is the accrued warranty liability. This entry is written under warranty expense.
What is the journal entry for paid insurance premium?
debit insurance premiumcredit cash / bank
WHAT is the journal entry to record yearly accrued insurance exp?
debit accrued insurance expensecredit insurance payable
Is the journal entry of receiving a phone bill an asset or liability?
phone bill is liability for business as it is payable in future and not an asset as the benefit of it has already taken by business.
What are the educational requirements for an entry-level position in the insurance field?
Many of the entry-level clerical positions in the insurance industry require only a high school diploma.
