Ask Question
13 December, 22:34

Fink Insurance collected premiums of $17,900,000 from its customers during the current year. The adjusted balance in the Deferred premiums account increased from $4.0 million to $8.4 million dollars during the year. What is Fink's revenue from insurance premiums recognized for the current year? a. $22,300,000. b. $9,500,000. c. $13,500,000. d. $17,900,000.

+3
Answers (1)
  1. 13 December, 22:43
    0
    Fink's revenue from insurance premiums for the current year is: $13,500,000

    Explanation:

    Insurance premiums recognised for the current year -

    Insurance collected + Beginning Deferred premiums account - Ending Deferred premiums account

    = $ 17,900,000 + 4,000,000 - 8,400,000 = $13,500,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Fink Insurance collected premiums of $17,900,000 from its customers during the current year. The adjusted balance in the Deferred premiums ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers