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

Question

Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures associated with getting the corporation started:

Expense Date Amount
Attorney fees for articles of
incorp February 10 $38,000
March 1-March 30 wages March 30 $3,800
March 1-March 30 rent March 30 $1,900
Stock issuance April 1 $21,000
April 1-May 30 wages May 30 $9,500

A. What is the total amount of the start-up costs and organizational expenditures for Nicole's corporation?

Total amount of the start up cost $
Organizational expenditures $

Explanation / Answer

Total amount of the start up cost $ = 3,800 + 1,900 = 5,700
Organizational expenditures $ = 38,000

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