C$15$

A

B

C

D

F

G

H

J

$1$ In January $2024,$ Chi, Inc. estimated that its year$-$end bonus to executives would be $$960,000$ for $2024.$ The actual amount paid

$2$ for the year$-$end bonus for $2024$ was $$880,000.$ The estimate for $2024$ is subject to year$-$end adjustment. What amount, if any,

$3$ of expense should be reflected in Chi's quarterly income statement for the three months ended March $31,2024?$

$4$ a$.$ $$-0$

$5$

b$.$

$$220,000$

$6$

c$.$

$$240,000$

$7$

d$.$

$$960,000$

$8$

$9$

$10$ Portion of Bonus Exp$=($Bonus estimate for $2024/12$ months$)*$Number of months in interim period

$11$

$12$

$$220,000$

$(880,\frac{000}{12})**3$