Solution for Final Accounts (5th Problem)

 Dear students , here i am uploading Final Accounts solution.

Note: Following are the important points based on yesterday's conversation with you

I. unexpired Insurance is also called Prepaid Insurance  

1.First we need to subtract amount from Taxes & Insurance under P/L A/c Debit side

2.We need to show subtracted figure under Asset side of Balance sheet

II.Charity amount should be shown Debit side of P/L A/c