Dana Co.'s officers' compensation expense account had a balance of $224,000 at December 31, 20X4 before any appropriate year-end adjustment relating to the following: No salary accrual was made for December 30-31, 20X4. Salaries for the two-day period totaled $3,500. 20X4 officers' bonuses of $62,500 were paid on January 31, 20X5. In its 20X4 income statement, what amount should Dana report as officers' compensation expense? $224,000 $290,000 $227,500 $286,500

Dana Co.'s officers' compensation expense account had a balance of $224,000 at December 31, 20X4 before any appropriate year-end adjustment relating to the following: No salary accrual was made for December 30-31, 20X4. Salaries for the two-day period totaled $3,500. 20X4 officers' bonuses of $62,500 were paid on January 31, 20X5. In its 20X4 income statement, what amount should Dana report as officers' compensation expense? $224,000 $290,000 $227,500 $286,500

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 5PB

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