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What is Sakura Corporation expense

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Question - The Sakura Corporation was formed in early 2017. At the time of formation, Sakura Corporation spent the following amounts: accounting fees, $6,000; legal fees, $10,000; stock certificate costs, $2,500; initial franchise fee, $10,000; initial lease payment, $5,000; promotional fees, $3,000. Sakura Corporation intends to capitalize and amortize intangibles over the maximum allowable period in accordance with generally accepted accounting principles. Based on this strategy, what is Sakura Corporation's expense associated with organization costs in 2017?

Reference no: EM132848812

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