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What amount Dana report as officers compensation expense

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Question - 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?

a. $227,500

b. $290,000

c. $286,500

d. $224,000

Reference no: EM132664959

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