contestada

Fink Insurance collected premiums of $17,700,000 from its customers during the current year. The adjusted balance in the Deferred premiums revenue account increased from $5.0 million to $8.8 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.

Respuesta :

Baraq

The Fink's revenue from insurance premiums recognized for the current year is $13,900,000.

This is because to find Fink's revenue in this situation; we use this formula.

Insurance premium collected + Beginning Deferred premium account - Ending deferred premium;

Thus we have an Insurance premium collected => $ 17,700,000;

Beginning Deferred premium account => $ 5,000,000;

Ending deferred premium => $8,800,000;

Therefore by slotting the details into the formula, we have:

=> $ 17,700,000 + $ 5,000,000 - $8,800,000 = $ 13,900,000;

Hence, in this case, it is concluded that the correct answer is "$13,900,000."

Learn more here: https://brainly.com/question/15133127

Otras preguntas