Nicole organized a new corporation. The corporation began business on April 1 of year 1. She...

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Accounting

Nicole organized a new corporation. The corporation beganbusiness on April 1 of year 1. She made the following expendituresassociated with getting the corporation started: (Leave no answerblank. Enter zero if applicable.) Expense Date Amount Attorney feesfor articles of incorporation February 10 $ 39,000 March 1 – March30 wages March 30 6,100 March 1 – March 30 rent March 30 2,700Stock issuance costs April 1 27,000 April 1 – May 30 wages May 3015,250 b. What amount of the start-up costs and organizationalexpenditures may the corporation immediately expense in year 1(excluding the portion of the expenditures that are amortized over180 months)? c. What amount can the corporationdeduct as amortization expense for the organizational expendituresand for the start-up costs for year 1 (not including the amountdetermined in part b)? (Round intermediate calculations to2 decimal places and final answer to the nearest whole dollaramount.)

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WN Startup costs are the cost incurred before the business began Startup costs March 1 March 30 wages March 1 March 30 rent 6100 2700 8800 See Answer

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Nicole organized a new corporation. The corporation beganbusiness on April 1 of year 1. She made the following expendituresassociated with getting the corporation started: (Leave no answerblank. Enter zero if applicable.) Expense Date Amount Attorney feesfor articles of incorporation February 10 $ 39,000 March 1 – March30 wages March 30 6,100 March 1 – March 30 rent March 30 2,700Stock issuance costs April 1 27,000 April 1 – May 30 wages May 3015,250 b. What amount of the start-up costs and organizationalexpenditures may the corporation immediately expense in year 1(excluding the portion of the expenditures that are amortized over180 months)? c. What amount can the corporationdeduct as amortization expense for the organizational expendituresand for the start-up costs for year 1 (not including the amountdetermined in part b)? (Round intermediate calculations to2 decimal places and final answer to the nearest whole dollaramount.)