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.
$40,000 for Ken.
$30,000 for Jayne.
$20,000 for Jill.
$10,000 for Justin.
Required:
1. How much of the accrued bonuses can Jorgensen deduct in year 1 under the following alternative scenarios?
a. Jorgense paid the bonuses to the employees on March 1 of year 2.
b. Jorgense paid the bonuses to the employees on April 1 of year 2.
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