1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Blizzard [7]
3 years ago
7

On May 1, a two-year insurance policy was purchased for $26,400 with coverage to begin immediately. What is the amount of insura

nce expense that would appear on the company's income statement for the first year ended December 31?
a. $1,800.

b. $12,600.

c. $14,400.

d. $16,200.

e. $43,200.
Business
1 answer:
Ket [755]3 years ago
8 0

Answer:

$8,800

Explanation:

Calculation for What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31

First step is to calculate insurance amount per year

Insurance=$26,400/2 years

Insurance= 13,200

Second step is to calculate the insurance value per months

Insurance value=13,200/12 months

Insurance value=1,100

Now let calculate insurance expense

Insurance expense =$1,100 x 8 months

Insurance expense = $8,800

Note that May 1 to December 31 will give us 8 months

Therefore the amount of insurance expense that would appear on the company's income statement for the first year ended December 31 will be $8,800

You might be interested in
Grabhouse inc. is experiencing an increase in turnover rates of its top employees. upon consulting with its managers for the rea
user100 [1]
In order to make its pay mix less risky, Grabhouse needs to INTRODUCE A PROFIT SHARING PLAN TO ITS PAY MIX.
A profit sharing plan is a plan which gives employees part of the profits that are generated by the company. In this plan, each worker receives a percentage of company's profits based on the company's quarterly or yearly profits. Applying this method will reduce the rate at which employees leave the company.
3 0
3 years ago
Outpatient care accounts for what percent of gross patient revenue for all us hospitals? 1. 10% 2. 20% 3. 40% 4. 60%\
Korvikt [17]
Answer: 3. 40%

Outpatient care accounts for 40% of gross patient revenue for all US hospitals. Outpatient primary care services include Physician office and Hospital emergency services. Two primary care services are Inpatient Care Services and Outpatient Care Services.

Outpatient care services are those services including medical tests and procedures that can be done in any medical center without staying overnight in that center or hospital.
8 0
3 years ago
Paraguay’s economy is afflicted by poverty and an absence of opportunities and advantages. However, a positive aspect of this si
Art [367]

Paraguay's economy is afflicted by poverty and an absence of opportunities and advantages. However, a positive aspect of this situation is none.

The economy of Paraguay is a market financial system that is distinctly depending on agriculture products. In latest years, Paraguay's economic system has grown because of improved agricultural exports, especially soybeans. Paraguay has the monetary benefits of a young population and great hydroelectric energy.

Paraguay has been one of the poorest and most unequal nations at the continent for a long term. the total poverty rate — defined by using the world financial institution as those with an income of much less than $3.10 a day — in Paraguay rose in 2016 from 26.6 percent to 28.8 percent.

Learn more about economy here: brainly.com/question/2824360

#SPJ4

7 0
1 year ago
A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way t
marissa [1.9K]

Answer: A) Prototype

Explanation:

The first model shown to entrepenuers are called prototypes

proto- before

7 0
3 years ago
The theory of ______ states that the prices of tradable goods, when expressed in a common currency, will tend to equalize across
IgorLugansk [536]
The answer is; Purchasing Power Parity.

<em>Hope this helped! :)</em>
3 0
3 years ago
Other questions:
  • The development of a new information system is economically justified if the _____.
    8·1 answer
  • Lionel's Lawn Care is a company that maintains residential yards. Lionel's cost for his standard package of mowing, edging, and
    9·1 answer
  • If former President Barack Obama were to come on TV and say, Take cover for the next 4 months cause of the Virus. All jobs and o
    13·1 answer
  • The person who acquires real property under the terms of a will is known as a ___________.
    11·1 answer
  • The heat sinks needed are bought for $14 each and are ordered in quantities of 1200 units. Annual demand is 6200 heat sinks, the
    5·1 answer
  • Martin, an employee at a boutique store, is required to handle store displays and also ensure that all the sales records tally a
    15·1 answer
  • Lucky wants to attach a goal coast of her life goal. What might she do this
    13·1 answer
  • You bought an American put option some time ago. Today it has one year left to expiration. Interest rate is 10% per year. Annual
    8·1 answer
  • An investment has a beta of 0.9. the risk-free rate of return is 8 percent, while the return on the market portfolio of assets i
    13·1 answer
  • Which are types of income tax that people pay? Check all that apply.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!