If jorgensen high tech incorporated is a calendar-year, accrual-method taxpayer. The accrued bonuses that jorgensen can deduct in year 1 under if Jorgensen paid the bonuses to the employees on March 1 of year 2. is: $174,000.
<h3>How to find the accrued bonuses?</h3>
Using this formula to find the accrued bonuses
Accrued bonuses = Ken bonus + Jayne bonus + Jill bonus +Justin bonus
Where:
Ken bonus =$69,600
Jayne bonus =$52,200
Jill bonus = $34,800
Justin bonus =$17,400
Where:
Let plug in the formula
Accrued bonuses= $69,600 + $52,200 + $34,800+ $17,400
Accrued bonuses = $174,000
Therefore the accrued bonuses is the amount of $174,000.
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The complete question is:
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. $69,600 for ken. $52,200 for jayne. $34,800 for jill. $17,400 for justin. how much of the accrued bonuses can jorgensen deduct in year 1 under the following alternative scenarios?
Jorgensen paid the bonuses to the employees on March 1 of year 2.
