10. LO.2 In late December 2013, Gray Corporation (a calendar year C corporation) pledges a $50,000 donation...

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10. LO.2 In late December 2013, Gray Corporation (a calendar year C corporation)

pledges a $50,000 donation to a local relief agency formed to fight AIDS in Africa.

Although Gray’s board of directors authorized the donation in 2013, the payment is not made until March 2014. What issues are involved?

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South-Western Federal Taxation 2014 Corporations Partnerships Estates And Trusts

ISBN: 9781285424484

37th Edition

Authors: William H. Hoffman Jr., William A. Raabe, James E. Smith, David M. Maloney, James C. Young

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