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Problem - X Co was incorporated on June 1, but did not start business until September 1. It adopted a fiscal year ending March 31, coinciding with the end of its natural business cycle. In connection with organizing the business, co incurred the following;
Legal fees for incorporating 8000
Accounting fees for opening corporate books 400
Tax planning advice 300
Printing and issuing stock certificates 50
Incorporation fees to state 100
Temporary director's fees 2000
Legal fees for transfer of corporate assets to the corp. 500
Required - What is the amount of organizational expenses and the amount deductible in the first year?
icon.com sells software and provides consulting services to companies that conduct business over the internet. the
a dubois inc. has completed the purchase of new dell computers. the fair value of the equipment is 825400. the purchase
Identify an organization or business for your Learning Team research project. Describe the products or services it provides.
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list at least three common miscellaneous itemized deductions and explain why these expenses can not be deducted
Do Restrictive Covenants in Employment Agreements Present Ethical Issues? (OR) A Suggested Ethical Framework for Evaluating Corporate Mergers and Acquisitions?
Prepare the necessary journal entries for the years ending December 31, 2009, 2010, and 2011. Show all computations.
jameson company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs.
All-Fixed Costs The New York Company has built a massive water-desalting factory next to an ocean. The factory is completely automated.
If the machine has no salvage value at the end of seven years, and assuming the company's discount rate is 10%, what is the purchase price of the machine if the net present value of the investment is $170,000?
For each of the transactions, prepare journal entries to record them in appropriate governmental funds (which are accounted for on a modified accrual basis)
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