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Jorgensen High Tech Inc. is a calendar-year, accrual-method taxpayer. At the end of year 1,...

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Accounting

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.

  • $67,200 for Ken.
  • $50,400 for Jayne.
  • $33,600 for Jill.
  • $16,800 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.

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

c. Jorgensen paid the bonuses to 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.

d. Jorgensen paid the bonuses to 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; if not, the forfeited bonus is reallocated to the other employees.

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