|
Title: Edison Corporation is organized on July 31. The corporation starts business on August 10. The ... Post by: safezone on Feb 14, 2017 Edison Corporation is organized on July 31. The corporation starts business on August 10. The corporation adopts a November 30 fiscal year end. The following expenses are incurred during the year:
Date Type Amount 6-30 7-10 7-15 6-30 12-6 Attorney's fees associated with obtaining charter Underwriter fees for stock sale Transfer cost for property contributed to the corporation for stock Costs of organizational meetings Legal fees to modify charter $ 10,000 25,000 3,000 2,000 4,000 What is the maximum amount of organizational expenditures that can be deducted by the corporation for its first tax year ending November 30? A) $16,000 B) $12,000 C) $5,156 D) $800 Title: Re: Edison Corporation is organized on July 31. The corporation starts business on August 10. The ... Post by: strwbrry on Feb 14, 2017 Content hidden
|