Q1 –How much is the earned portion for the month ended January 31, 2019? Q2 - How much is the earned portion for the month ended December 31, 2019? Q3 – How much is the unearned portion for the month ended January 31, 2019?
Q1 –How much is the earned portion for the month ended January 31, 2019? Q2 - How much is the earned portion for the month ended December 31, 2019? Q3 – How much is the unearned portion for the month ended January 31, 2019?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
This is all about insurance contract. Please answer. Thank You
AAA Insurance Company issues one year, motor/vehicle insurance for a total premium of
P15,000. If it was issued on January 1, 2019,
Q1 –How much is the earned portion for the month ended January 31, 2019?
Q2 - How much is the earned portion for the month ended December 31, 2019?
Q3 – How much is the unearned portion for the month ended January 31, 2019?
Q4 – How much is the unearned portion for the month ended December 31, 2019?
Q5 – How much is the provision for unearned premium on December 31, 2019?
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