FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fink Insurance collected premiums of $18.400.000 from its customers during the current year. The adjusted balance in the Deferred premiums revenue account increased from $4.0

image text in transcribed

Fink Insurance collected premiums of $18.400.000 from its customers during the current year. The adjusted balance in the Deferred premiums revenue account increased from $4.0 million to $9.2 million dollars during the year. What is Fink's revenue from insurance premiums recognized for the current year? Multiple Choice O $9,200,000 O $23,600,000. O $13.200.000 $18,400,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information For Decision Making Readings In Cost And Managerial Accounting

Information For Decision Making Readings In Cost And Managerial Accounting

Authors: Alfred Rappaport

2nd Edition

0134643887, 978-0134643885

More Books

Students also viewed these Accounting questions

Question

★★★★★
McMahon Inc. reported the following on the companys statement of cash flows in 2014 and 2013: Seventy percent of the net cash flow used for investing activities was used to replace existing capacity....

Answered: 1 week ago

Question

★★★★★
A PowerPoint theme includes backgrounds, colors, and a unified design. Question content area bottom Part 1 True False

Answered: 1 week ago

Question

★★★★★
What is evidence-based practice? Why is it important in AAC intervention? What are the three main components that are used to make evidence-based practice decisions?

Answered: 1 week ago

Question

★★★★★
The charges to Work in Process?Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials...

Answered: 1 week ago

Question

★★★★★
Use the following to answer questions 1620 Determine the company's cash flows based on the following: 16. $ Refer to transaction J, how much should be included in cash used from investing activities?...

Answered: 1 week ago

Question

★★★★★
A corporation has the following account balances on December 31, 2019: Accounts payable $2,500 Accounts receivable 5,200 Advertising expense 450 Cash 1,500 Common stock 1,500 Interest expense 400...

Answered: 1 week ago

Question

★★★★★
Are These Entities Affiliates? Exercise 4 Chart 100% ownership, 55% fund assets Fund 1 GP/RIA 1% ownership in both funds 30% ownership. 4% fund assets Port. Co. A Audit Client Port Co. B Fund 2...

Answered: 1 week ago

Question

★★★★★
During 2024, Aubergine Co. borrowed cash from Chartreuse Company by issuing notes payable as follows: July 1, 2024, issued a eight-month, 4% note for $75,000. Interest and principal are payable at...

Answered: 1 week ago

Question

★★★★★
(a) Calculate the estimated least squares line. (b) Find the sample correlation between the height as an adult and the height at the age of 2. (c) Estimate the mean height of a girl as an adult,...

Answered: 1 week ago

Question

★★★★★
Zion Inc makes industrial solvents sold in 5-gallon drums. Planned production in units for the first 3 months of the coming year is: January 43,800 February 41,000 March 50,250 Each drum requires 5.5...

Answered: 1 week ago

Question

★★★★★
The annual reports of the Coca-Cola Company and PepsiCo Incorporated indicate the following for the year ended December 31, 2020 (amounts in millions): Net revenues Net income Total assets, January...

Answered: 1 week ago

Previous Question Next Question