Business

Guadalupe Robertson

15 May, 17:15

Warren, Inc. purchased a $400,000 life insurance policy on the company president on January 1, 2017. The premium that was paid on January 1 amounted to $11,600. In the first year, cash surrender value increased by $900 and dividends received by Warren from the insurance company for the year amounted to $300. What was Warren's insurance expense for 2017?

+3

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question ✅ “Warren, Inc. purchased a $400,000 life insurance policy on the company president on January 1, 2017. The premium that was paid on January 1 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.

Search for Other Answers

You Might be Interested in

Which of the following cost categories are important in managing goods for sale in a retail company? A. 1. carrying costs 2. stockout costs B. 1. quality costs 2. shrinkage costs C. 1. purchasing costs 2. ordering costs D.

Toby signs a note "payable to the order of United Credit Union." Unless Toby has a valid defense against payment, Toby's liability on this note is immediate. imposed only after payment is demanded.

Suppose Microsoft announces it is cutting the prices of some of its software titles (mainly games) by 25 percent. Assuming that Microsoft is seeking to increase revenues, it must believe that the elasticity of demand for these products is

What is not an advantage of setting up a business as a sole proprietorship? A. Taxes are lower B. There are fewer regulations C. Losses are limited to the owner's investment D. The owner control the best decision

Abraham drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.55 per can. On a particular day, he is willing to pay $0.95 for the first can, $0.80 for the second can, $0.60 for the third can, and $0.

New Questions in Business

Companies using LIFO are required to disclose the amount at which inventory would have been reported had it used FIFO. Similarly, companies using FIFO are required to disclose what their inventory would have been if the company had used LIFO.

Frito-lay, which is widely known for producing chips and other snack products, tried to introduce frito-lay lemonade. the reason this new product failed is likely because of

Suppose ABC Dairy is one firm competing in the perfectly competitive market for milk. Now suppose ABC Dairy decides to produce only organic milk. Which of the following best describes the effects of this change in the market? a.

Futures contracts on gold are based on 100 troy ounces and priced in dollars per troy ounce. Assume the January gold contract settled today at 1285.10 and opened at 1284.60. The April contract settled at 1285.30 and opened at 1285.

A firm incurs $35,000,000 of actual OH costs. It has a PDOH rate of $450 per machine hour and 100,000 machine hours were actually consumed during the period. The firm has 0 units in beginning WIP, it started 250 units and completed 230 units.