MC Qu. 102 On April 30, 2014, a three-year insurance...
On
April 30, 2014, a three-year insurance policy was purchased for $18,000
with coverage to begin immediately. What is the amount of insurance
expense that would appear on the company's income statement for the year
ended December 31, 2014?| $500 | |
 | $4,000 |
| $6,000 | |
| $14,000 | |
| $18,000 |
$18,000 x 8/36 = $4,000
