Calculate total start-up and organization costs

Assignment Help Financial Accounting

Reference no: EM13914479

At the beginning of 2014, Salinas Company incurred the following start-up and organization costs: (1) attorneys' fees with a market value of $10,000, paid with 6,000 shares of $1 par value common stock, and (2) incorporation fees of $6,000 cash. Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

Reference no: EM13914479

Questions Cloud

What imply about residual flows to other environmental media : State how each of the following factors affects the materials balance model: (i) population growth; (ii) income growth; (iii) increased consumer recycling; (iv) increased industrial recycling; (v) increased use of pollution preven- tion technologi..

What is the single audit act : What is the Single Audit Act? How has this act influenced auditing of governmental agencies? What types of reports and opinions do the auditors provide?

What is the firms net working capital : The Caraway Seed Company grows heirloom tomatoes and sells thier seeds. The heirloom tomato plants are preferred by many growers for thier superior flow. Calculate Caraway's stockholders' equity. What is the firm's net working capital?

Calculate total start-up and organization costs : Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

Firm can deduct the interest paid for tax purposes : On January 1, 2012, your brother's business obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 4.35%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest dedu..

Question regarding the learning experience : From what you have learned in this course, determine the single most impactful or interesting thing you learned. Explain what made it so. Explain which part(s) of the content of this course will be useful to you in the future. Provide specific exa..

Propulsion sciences stock dividend : Propulsion Sciences' (PS) stock dividend has grown at 10% per year for many years. Investors believe that a year from now the company will pay a dividend of $3 and that dividends will continue their 10% growth indefinitely. If the market's required r..

Explain logic of why in some resort communities ownership : Using the theory of public goods, explain the logic of why in some resort communities the ownership of waterfront homes also includes some defined area along the beach.

User Account

All Pages