Calculate total start-up and organization costs

Reference no: EM131342008

At the beginning of 2011, Patel Company incurred the following start-up and organization costs:

(1) attorneys' fees with a market value of $20,000, paid with 12,000 shares of $1 par value common stock, and

(2) incorporation fees of $12,000. Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

Reference no: EM131342008

Questions Cloud

Organization and functions of axial and appendicular : Compare the organization and functions of axial and appendicular skeletons, and describe in detail the girdles of the latter.

How much can the couple claim as a lifetime learning credit : She wants to become a nurse and is attending community college to earn her associate's degree in nursing. Michelle paid $2,000 for the fall semester. How much can the couple claim as a lifetime learning credit

Component of plasma membrane : Consider a plant cell that makes a particular protein that is a necessary component of its plasma membrane. Trace the pathway this protein will take, beginning with its synthesis at the ribosome bound to the endoplasmic reticulum (which is where a..

Did your county turnout support your political culture : What does the outcome say about your county? Did your county turnout support or not support your political culture hypothesis? Why or why not?

Calculate total start-up and organization costs : What will be the effect of these costs on the income statement and balance sheet?

Dehydration changes urine production and osmolarity : Describe how ADH secretion during dehydration changes urine production and osmolarity.

Osmolarity during dehydration or water loading : Explain why we do not see significant changes in plasma osmolarity during dehydration or water loading.

Create web page that display student individual timetable : Create a web page that will display a student's individual timetable using the sample timetable data (contained in sample.js). The user view could be in the form of a "week at a view" layout as shown in the sample timetable display (sample.html) ..

Network administrator perspective : Create a 2- to 2.5-page table using Microsoft® Word highlighting the pros and cons from a network administrator's perspective, along with a use case description of the following:

User Account

All Pages