On may 1, a two-year insurance policy was purchased for $9,600 with coverage to begin immediately. what is the amount of insurance expense that would appear on the company's income statement for the first year ended december 31?

amount of insurance expense = $3200

Explanation:

given data

policy purchased = $9,600

to find out

What is the amount of insurance expense that would appear on the company's income

solution

we know insurance purchased on 1 may at $9600

and at statement 31st December is

time is may to December is = 8 month

so for 2 year insurance = 24 months

so

amount of insurance expense =

amount of insurance expense = 400 × 8

amount of insurance expense = $3200

if you do not file your taxes you will not have a job, and you credit rate will go down.

answercombination of ability and experience of the partners;