asked 151k views
4 votes
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?

asked
User Pixel
by
8.1k points

1 Answer

2 votes

Answer: $10,400

Step-by-step explanation:

answered
User Moluzhui
by
7.6k points
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