On April 30, 2014, a three-year insurance policy was purchased for $19,080 with coverage to begin...
On April 30, 2014, a three-year insurance policy was purchased for $19,080 with coverage to begin immediately. What is the amount of insurance expense that would appear on the company's income statement for the year ended December 31, 2014?
MC $6,360 $530.00 $14,840 $19,080 $4,240
Homework Answers
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Insurance expense for the year 2014 = (19,080/36 months) * 8 = 530 * 8 = 4240 Comment if you face any issues |
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On April 30, 2014, a three-year insurance policy was purchased
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