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  3. beech corporation, an accrual basis calendar year

Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business in June...

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Accounting

Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business in June 1st of the current calendar tax year. During the current year, the corporation incurred the following expenses: State fees for incorporation $ 1,600 Legal and accounting fees incident to organization 5,600 Expenses for the sale of stock 6,400 Organizational meeting expenses 2,400 Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over 15 years,

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