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
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. $75,600 for Ken. $56,700 for Jayne. $37,800 for Jill. $18,900 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.)
a. Jorgensen paid the bonuses to the employees on March 1 of year 2.
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. $75,600 for Ken. $56,700 for Jayne. $37,800 for Jill. $18,900 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.)
b. Jorgensen paid the bonuses to the employees on April 1 of year 2.
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Total Quality Auditing
Authors: Amanda Jo Erven
1st Edition
1733784306, 978-1733784306
