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Home Q & A Board Other Fields Homework Help Business Accounting
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safezone safezone
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7 years ago
Green Corporation is incorporated on March 1 and begins business on June 1. Green's first tax year ends on October 31, i.e., a short year. Green incurs the following expenses during the year:

Month   Type   Amount
February
March
March
April
December   Draft charter
Stock commission
Accounting fees to set up books
Temporary director fees
Charter modification fee   $  2,000 
30,000
  2,000
  2,000
   1,000

What is the deduction for organizational expenses if Green chooses to deduct its costs as soon as possible?
A) $36,000
B) $5,028
C) $667
D) $500
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
Authors:
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That's not philosophy, it's geometry
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RimounRimoun
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7 years ago
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safezone Author
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7 years ago
Good timing, thanks!
carston
wrote...

Yesterday
This helped my grade so much Perfect
klyn
wrote...

2 hours ago
Smart ... Thanks!
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