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Compute the total amount of organization costs

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Question - Cheyenne Corporation was organized in 2019 and began operations at the beginning of 2020. The company is involved in interior design consulting services. The following costs were incurred prior to the start of operations.

Attorney's fees in connection with organization of the company $15,500

Purchase of drafting and design equipment 10,500

Costs of meetings of incorporators to discuss organizational activities 5,400

State filing fees to incorporate 1,400

$32,800

Required - Compute the total amount of organization costs incurred by Cheyenne.

Reference no: EM132636912

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