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1. • CommentAuthorJennie
   • CommentTimeApr 30th 2007

    
   Hi,
   
   I am trying to working out in a budgeted balance sheet where does the insurance payable expense go???
   
   Not sure what heading
   
   Thanks
2. • CommentAuthorabril
   • CommentTimeMay 1st 2007

    
   insurance payable expense - this one sounds crazy, really confusing. anyways i'll try to answer.
   i think the journal is like this - debit insurance payable expense, credit insurance payable.
   insurance payable expense goes to income statement, the payable goes to balance sheet.
   i hope it helped.
3. • CommentAuthorAbusamak
   • CommentTimeMay 1st 2007

    
   hello,
   look insurance payable expense matched prepaid insurance in preparing proforma balance sheet
   
   Dr. prepaid insurance
   Cr. insurance payable or cash
   
   good luck
4. • CommentAuthoraakbar
   • CommentTimeMay 6th 2007

    
   since u r preparing only budget, consider it as ur exps & take to ur income statement.
   If you want to treat it as payble exps i.e accrude exps. u can show it in B/S under current liability
   
   cheeer