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Seved Oswindow.ME Help Save & Exit Submit On December 19, 2020, Logo Inc., an accrual...

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Accounting

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Seved Oswindow.ME Help Save & Exit Submit On December 19, 2020, Logo Inc., an accrual basis corporation, accrued $50,000 compensation expense for a routine year-end bonus payable to M. Craig, who is Logo's CFO. Logo paid the $50,000 to Mr. Craig on April 25, 2021. Which of the following statements is true? Multiple Choice if Mr. Craig and Logo are not related parties, M Craig can efect to include the $50.000 bonus in gross income in the 2020 2021 If Mt. Craig and Logo are not related parties, Logo can deduct the accrued expense in 2020, Regardless of whether Logo and Mr. Craig arrelated parties. Logo cart deduce the accrued compenso expomen 2020 If Mr Craig and Logo are related parties, Mr. Craig must include his $50.000 bonus in 2020 gross income

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