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Required information [The following information applies to the questions displayed below.] Jorgensen High Tech Incorporated is a calendar-year, accrual-method taxpayer. At the end of
Required information [The following information applies to the questions displayed below.] Jorgensen High Tech Incorporated 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. $40,000 for Ken. . $30,000 for Jayne. $20,000 for Jill. . $10,000 for Justin. How much of the accrued bonuses can Jorgensen deduct in year 1 under the following alternative scenarios? Note: Leave no answer blank. Enter zero if applicable. c. Jorgensen paid the bonuses to the employees on March 1 of year 2, and there is a requirement that the employee must remain employed with Jorgensen on the payment date to receive the bonus. Answer is complete but not entirely correct. Deductible accrued bonuses Year 1 $ 100,000X
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