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0 Required information [The following information applies to the questions displayed below] North Inc. is a calendar-year C corporation, accrual-basis taxpayer. At the end of
0 Required information [The following information applies to the questions displayed below] North Inc. is a calendar-year C corporation, accrual-basis taxpayer. At the end of year 1, North accrued and deducted the following bonuses for certain employees for financial accounting purposes $12,450 for Lisa Tanaka, a 40 percent shareholder $12,300 for Jared Zabaski, a 25 percent shareholder $14,700 for Helen Talanian, a 10 percent shareholder. $5,700 for Steve Nielson, a 5 percent shareholder. Unless stated otherwise, assume these shareholders are unrelated. How much of the accrued bonuses can North Inc. deduct in year 1 under the following alternative scenarios? (Leave no answer blank. Enter zero if applicable.) a. North paid the bonuses to the employees on March 1 of year 2. Deductible accrued bonuses b. North paid the bonuses to the employees on April 1 of year 2 Deductible accrued bonuses c. North paid the bonuses to employees on March 1 of year 2 and Lisa and Jared are related to each other, so they are treated as owning each other's stock in North Deductible accrued bonuses d. North paid the bonuses to employees on March 1 of year 2 and Lisa and Helen are related to each other, so they are treated as owning each other's stock in North. Deductible accrued bonuses
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