Solution-Icorporation fees of 12000 calculate total

Icorporation fees of 12000 calculate total start-up and

Reference no: EM13571968

At the beginning of 2011, Patel company incurred the following start-up and organization costs:

1) Attorney's fees with a market value of $20,000, paid with 12,000 shares of $1 par value common stock, and

2) Incorporation fees of $12,000. Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

Reference no: EM13571968

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Icorporation fees of 12000 calculate total start-up and

Reference no: EM13571968

Reference no: EM13571968

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