Fina Corp. had the following transactions during the quarter ended March 31, 2015: $\begin{array}{l}
\text { Loss from hurricane damage } & \$ 420,000\
\text { Payment of fire insurance premium for calendar year } 2015&700,000
\end{array}$ What amount should be included in Fina's income statement for the quarter endedMarch 31, 2015?

Question

Quizplus · Accepted Answer

The Answer of Fina Corp. had the following transactions during the quarter ended March 31, 2015: $\begin{array}{l}
\text { Loss from hurricane damage } & \$ 420,000\
\text { Payment of fire insurance premium for calendar year } 2015&700,000
\end{array}$ What amount should be included in Fina's income statement for the quarter endedMarch 31, 2015?

Fina Corp Had the Following Transactions During the Quarter Ended March