Please help with c).Homework Answers
| Start up costs | Organizational Expenditures | |
| Start up costs and organisational Expenditures | 6500 | 32000 |
| Immediate Expense Amount | 5000 | 5000 |
| Remaining Expenditure (A) | 1500 | 27000 |
| Recovery period as per US Code in months (15 Years) (B) | 180 | 180 |
| Monthly Amortization (A/B) | 8.33 | 150.00 |
| 1st Year Business Period in months (Apr to Dec) | 9 | 9 |
| Amortised Amount | 75 | 1350 |
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Please help with c).
Required information [The following information applies to the questions displayed below. Nicole...
2019 Required Information The following information applies to the questions displayed below) Nicole organized a new...
2019
Required Information The following information applies to the questions displayed below) 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: (Leave no answer blank. Enter zero If applicable.) Expense Attorney fees for articles of incorporation March 1 - March 30 wages March 1 - March 30 rent Stock issuance costs April 1 - May 30 wages Date Amount February 10 $40,000 March...
Required Information The following information applies to the questions displayed below) Nicole organized a new corporation....
Required Information The following information applies to the questions displayed below) 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: (Leave no answer blank. Enter zero if applicable. Expense Attorney fees for articles of incorporation March 1 - March 30 wages March 1 - March 30 rent Stock issuance costs April 1 - May 30 wages Date Amount February 10 $40,000 March 30...
42 Required information [The following information applies to the questions displayed below Part 3 of 4...
42 Required information [The following information applies to the questions displayed below Part 3 of 4 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: (Leave no answer blank. Enter zero if applicable.) 10 points Еxpenne Date Amount Attorney fees for articles of incorporation March 1-March 30 wagen March 1-March 30 rent Stock iaauance costa April 1 May 30 wages February 10 March...
Nicole organized a new corporation. The corporation began business on April 1 of year 1. She...
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: (Leave no answer blank. Enter zero if applicable.) Expense Date Amount Attorney fees for articles of incorporation February 10 $ 42,000 March 1 – March 30 wages March 30 7,000 March 1 – March 30 rent March 30 3,000 Stock issuance costs April 1 21,000 April 1 – May 30 wages May 30 17,500...
amework 0 Required Information The following information applies to the questions displayed below) Nicole Mackisey is...
amework 0 Required Information The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the wing amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank. 52.250. amounts due from customers from spa treatments. $1,790: building and...
Required Information The following information apples to the questions displayed below.] Nicole Mackisey is thinking of...
Required Information The following information apples to the questions displayed below.] Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank, $2,250: amounts due from customers from spa treatments, $1,790, building and equipment. $71,000,...
Juliette formed a new business to sell sporting goods this year. The business opened its doors...
Juliette formed a new business to sell sporting goods this year. The business opened its doors to customers on June 1. Determine the amount of start-up costs Juliette can immediately expense (not including the portion of the expenditures that are amortized over 180 months) this year in the following alternative scenarios. (Leave no answer blank. Enter zero if applicable.) a. She incurred start-up costs of $3,900. Amount of start-up costs immediately expensed b. She incurred start-up costs of $44,500. Amount...
The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her...
The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank, $3 250, amounts due from customers from spa treatments, $1,890, building and equipment, $72,000, amounts...
Problem 11-6 Special Deductions and Umitations (LO 11.3) Beech Corporation, an accrual basis calendar year taxpayer...
Problem 11-6 Special Deductions and Umitations (LO 11.3) Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business on August 1st of the current calendar tax year. During the current year, the corporation incurred the following expenses: State fees for incorporation Legal and accounting fees incident to organization Expenses for the sale of stock Organizational meeting expenses $ 500 4,150 2,100 Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over...
please help Required information The following information applies to the questions displayed below) Marcelino Co's March...
please help
Required information The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $89.000. Raw materials purchases in April are $540,000 and factory payroll cost in April is $384.000 Overhead costs incurred in Aprilare: indirect materials, $54.000 indirector $26.000 factory rent, $32,000, factory utilities, $20,000: and factory equipment depreciation. 552.000 The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $640,000 cash in April Costs of...
2019
Required Information The following information applies to the questions displayed below) 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: (Leave no answer blank. Enter zero If applicable.) Expense Attorney fees for articles of incorporation March 1 - March 30 wages March 1 - March 30 rent Stock issuance costs April 1 - May 30 wages Date Amount February 10 $40,000 March...
Required Information The following information applies to the questions displayed below) 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: (Leave no answer blank. Enter zero if applicable. Expense Attorney fees for articles of incorporation March 1 - March 30 wages March 1 - March 30 rent Stock issuance costs April 1 - May 30 wages Date Amount February 10 $40,000 March 30...
42 Required information [The following information applies to the questions displayed below Part 3 of 4 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: (Leave no answer blank. Enter zero if applicable.) 10 points Еxpenne Date Amount Attorney fees for articles of incorporation March 1-March 30 wagen March 1-March 30 rent Stock iaauance costa April 1 May 30 wages February 10 March...
amework 0 Required Information The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the wing amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank. 52.250. amounts due from customers from spa treatments. $1,790: building and...
Required Information The following information apples to the questions displayed below.] Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1,000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank, $2,250: amounts due from customers from spa treatments, $1,790, building and equipment. $71,000,...
Juliette formed a new business to sell sporting goods this year. The business opened its doors to customers on June 1. Determine the amount of start-up costs Juliette can immediately expense (not including the portion of the expenditures that are amortized over 180 months) this year in the following alternative scenarios. (Leave no answer blank. Enter zero if applicable.) a. She incurred start-up costs of $3,900. Amount of start-up costs immediately expensed b. She incurred start-up costs of $44,500. Amount...
The following information applies to the questions displayed below) Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $10,000 to the business and receive 1000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018: Cash on hand and in the bank, $3 250, amounts due from customers from spa treatments, $1,890, building and equipment, $72,000, amounts...
Problem 11-6 Special Deductions and Umitations (LO 11.3) Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business on August 1st of the current calendar tax year. During the current year, the corporation incurred the following expenses: State fees for incorporation Legal and accounting fees incident to organization Expenses for the sale of stock Organizational meeting expenses $ 500 4,150 2,100 Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over...
please help
Required information The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $89.000. Raw materials purchases in April are $540,000 and factory payroll cost in April is $384.000 Overhead costs incurred in Aprilare: indirect materials, $54.000 indirector $26.000 factory rent, $32,000, factory utilities, $20,000: and factory equipment depreciation. 552.000 The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $640,000 cash in April Costs of...
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