How much of the accrued bonuses can jorgensen deduct

Reference no: EM131769007

Question: Jorgensen High Tech Inc. is a calendar-year, accrual-method taxpayer. At the end of year 1, Jorgensen accrued and deducted the following bonuses for certain employees for financial accounting purposes.

• $76,400 for Ken.

• $57,300 for Jayne.

• $38,200 for Jill.

• $19,100 for Justin.

- How much of the accrued bonuses can Jorgensen deduct in year 1 under the following alternative scenarios? (Leave no answer blank. Enter zero if applicable.)

- Jorgensen paid the bonuses to the employees on March 1 of year 2

- Jorgensen paid the bonuses to the employees on April 1 of year 2.

- Jorgensen paid the bonuses to employees on March 1 of year 2, and there is a requirement that the employee remain employed with Jorgensen on the payment date to receive the bonus.

- Jorgensen paid the bonuses to employees on March 1 of year 2, and there is a requirement that the employee remain employed with Jorgensen on the payment date to receive the bonus; if not, the forfeited bonus is reallocated to the other employees.

Reference no: EM131769007

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