An insurer received a premium of $24,000 from a policyholder for a one-year insurance policy that becomes

Fantastic news! We've Found the answer you've been seeking!

Question:

An insurer received a premium of $24,000 from a policyholder for a one-year insurance policy that becomes effective on April 1, 2020. For the insurer, what are the earned premiums for this policy in 2020?

Related Book For answer-question

Financial Accounting Theory

ISBN: 978-0132984669

7th edition

Authors: William R. Scott

See More Books

Posted Date: Dec 06, 2023 05:48 AM

See More Questions

Determine the force in member BD and the components of the reaction at C. 24 in. 160 lb 10 in
Your supervisor has just finished taking a college course in which she learned about flowcharting and data-flow diagrams. In the data-flow diagrams, there are four basic symbols that are used. Write...
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
The population (in millions) of a country in 2015 and the expected continuous annual rate of change k of the population are given. (a) Find the exponential growth model P = Ce kt for the population...
Three horizontal ropes pull on a large stone stuck in the ground, producing the vector forces A, B, and C shown in Fig. 1.38. Find the magnitude and direction of a fourth force on the stone that will...
Steam at 75 kPa and 8 percent quality is contained in a spring-loaded piston - cylinder device, as shown in Fig. P4 - 39, with an initial volume of 2 m3. Steam is now heated until its volume is 5 m3...
How are computers and digital devices used in cybercrime?
The road system around the hotel complex on International Drive (node 1) to Disney World (node 11) in Orlando, Florida, is shown in the network of Figure. The numbers by the nodes represent the...
As a X Engineer in a design consultancy company, you have purchased a high specification computing system. The computing system has a cost basis of USD 4 0 0 0 and a ten - year depreciable life. The...
Estimate the volume change of vaporization for ammonia at 20(C. At this temperature the vapor pressure of ammonia is 857 kPa.
1 A resistor in a circuit dissipates energy at a rate of 1.0 W. If the voltage across the resistor is doubled, what will be the new rate of energy dissipation? Select one: O a. 0.25 W O b.0.50 W O C...
Calculate depreciation and net investment during 2018. An economys capital stock was $46.3 billion at the end of 2016, $46.6 billion at the end of 2017, and $47.0 billion at the end of 2018....
If the Indian government reduces its deficit and achieves its target, how will the demand for or supply of loanable funds in India change? The government of India set a budget deficit target of 3...
U.K. banks must hold more capital as their holdings of consumer debt soars. What is the capital referred to in the news clip? How might the requirement to hold more capital make banks safer?
You are the HR director of Moore Markets, a grocery retailer that is in the process of overseas expansion. The company is U.S. based and just opened up several stores and branch offices in Mexico,...
The Economist magazine uses the price of a Big Mac to determine whether a currency is undervalued or overvalued. In July 2017, the price of a Big Mac was $5.30 in New York, 19.80 yuan in Beijing, and...
PQR enterprise wants to buy a machine. It receives offers for two models M and N. Data related to models are given below: Model M Installed capacity (units) Fixed overhead per annum Estimated profit...
Given find the value of k. es 1 e kx dx = 1 4'
A technology company sells a complex computer program. It promises customers that it will provide updates and virus protection for three years from date of sale. The company recognizes 80% of the...
The failure of managers to release bad news is a version of the adverse selection problem. Such failure indicates that the securities market is not working well. Required a. Why might a manager...
A theoretically correct measure of income does not exist in the real world in which accountants must operate. Required a. What is meant by the phrase a theoretically correct measure of income? b. Why...
Gross profit is (A) Excess of sales over cost of goods sold (B) Sales less purchases (C) Cost of goods sold + opening inventory (D) Net profit less expenses of the period
To find the value of closing inventory at the end of a period we (A) Do this by physically counting the inventory (i.e. stocktaking) (B) Look in the inventory account (C) Deduct opening inventory...
Net profit is calculated in the (A) Trading account (B) Profit and loss account (C) Trial balance (D) Statement of financial position

An insurer received a premium of $24,000 from a policyholder for a one-year insurance policy that becomes

Question:

Expert Answer:

Earned premiums represent the portion of the premiums that corresponds to t... View the full answer

Financial Accounting Theory

Students also viewed these accounting questions