A b c d 0 10000 30000 40000 16 2009 devrybecker

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Unformatted text preview: 0% of the DRD is allowed as a deduction. Choice "d" is incorrect. Kelly Corp. is allowed a 70% DRD. CPA-02109 Type1 M/C A-D 35. CPA-02109 ARE Nov 94 #37 Corr Ans: D PM#50 R 3-01 Page 16 Tapper Corp., an accrual basis calendar year corporation, was organized on January 2, 1993. During 1993, revenue was exclusively from sales proceeds and interest income. The following information pertains to Tapper: Taxable income before charitable contributions for the year ended December 31, 1993 Tapper's matching contribution to employeedesignated qualified universities made during 1993 Board of Directors' authorized contribution to a qualified charity (authorized December 1, 1993, made February 1, 1994) $500,000 10,000 30,000 What is the maximum allowable deduction that Tapper may take as a charitable contribution on its tax return for the year ended December 31, 1993? a. b. c. d. $0 $10,000 $30,000 $40,000 16 © 2009 DeVry/Becker Educational Development Corp. All rights reserved. Maxixishere Pdf Collection Becker CPA Review, PassMaster Questions...
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