User Account

All Pages

Compute the total amount of organization costs

Assignment Help Accounting Basics
Reference no: EM131817582

Question - Accounting for Organization Costs

Fontenot Corporation was organized in 2009 and began operations at the beginning of 2010. The company is involved in interior design consulting services. The following costs were incurred prior to the start of operations.

Attorney's fees in connection with the organization of the company

$15,455

Purchase of drafting and design equipment

11,020

Costs of meetings of incorporators to discuss organizational activities

7,258

State filing fees to incorporate

1,496

$35,229

(a) Compute the total amount of organization costs incurred by Fontenot.

(b) Prepare the journal entry to record organizational costs for 2010.

Reference no: EM131817582

Questions Cloud

Convincing evidence that a majority of all americans : Does the poll provide convincing evidence that a majority of all Americans aged 45 and older support legalization of marijuana for medical purposes?
How is d-alanylation beneficial for gram-positive bacteria : What are the differences between cell wall associated teichoic acids and lipoteichoic acid? How is D-alanylation beneficial for gram-positive bacteria?
Used in the operating net working capital calculation : Which of the following formulas only includes accounts that should be used in the operating net working capital calculation?
Embryos of rhesus macaque monkeys : University researchers were able to produce cloned embryos of rhesus macaque monkeys and transferred them to 25 surrogate mothers.
Compute the total amount of organization costs : Fontenot Corporation was organized in 2009 and began operations at the beginning of 2010. Compute the total amount of organization costs incurred by Fontenot
Contraception shots work in male monkeys : "Contraception Shots Work in Male Monkeys" tells about an injection that results in levels of certain antibodies that are high enough to prevent conception
Prepare the budgeted statement of comprehensive income : Prepare the budgeted statement of comprehensive income for the year ended 31 December 2016 using the absorption costing method
Kids overdo headache meds : "Kids Overdo Headache Meds" reports on a study by Dr. David Rothner, a pediatric neurologist at the Cleveland Clinic:
What is your company weighted average flotation cost : What is your company’s weighted average flotation cost, assuming all equity is raised externally?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the profit after tax for euro

Question - The Following information is for two companies EURO and AUSSIE. Calculate the Profit After Tax for EURO and AUSSIE

  Determine the number of shares outstanding

The charter of a corporation provides for the issuance of100,000 shares of common stock. Assume that 40,000 shares wereoriginally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?

  Include entries for both the sale and the forward contract

Prepare journal entries assuming the forward contract was entered into as a fair value hedge of a 100,000-rupee receivable arising from a sale made on October.

  What are some strategies used to retarget

What is retargeting? What are some strategies used to retarget Web site visitors?

  Business decisions involve aspects of risk and return

All business decisions involve aspects of risk and return.

  Discuss what amount will plaxo record as a deferred tax

What amount will Plaxo record as a deferred tax asset or liability in 2010

  Baxwell industries vice president of manufacturing

Baxwell Industries vice president of manufacturing receives a bonus

  Problem regarding straight-line depreciation

Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively. Compute the gain recognized by Demers Company relating to the equipment for 2006:

  Buster container company is suffering declining sales of

buster container company is suffering declining sales of its principal product nonbiodegradeable plastic cartons. the

  The lp partnership was formed on january 1 19x7 by

the lp partnership was formed on january 1 19x7 by investments from bill levy and marv parcells. levy contributed 30000

  List and explain items that should definitely be excluded

Bob Daniels manages an auto dealership's service department. The recent month's income statement for his department follows.

  Camey corporation purchased delivery equipment on january 1

camey corporation purchased delivery equipment on january 1 at a cost of 300000. the equipment is expected to have a

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd