Solution-What is the amount of organizational expenses

What is the amount of organizational expenses

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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?

Reference no: EM132454826

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What is the amount of organizational expenses : X Co was incorporated on June 1, but did not start business until September 1. What is the amount of organizational expenses and the amount deductible

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What is the amount of organizational expenses

Reference no: EM132454826

Reference no: EM132454826

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