User Account

All Pages

Prepare the journal entry to record organization costs

Assignment Help Accounting Basics
Reference no: EM132637081

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 -

(a) Compute the total amount of organization costs incurred by Cheyenne.

(b) Prepare the journal entry to record organization costs for 2020.

Reference no: EM132637081

Questions Cloud

Identify the audit procedures that should be used : Identify the audit procedures that should be used by the independent auditor are in addition to, normal required audit procedures
Advantages and disadvantages of IaaS-SaaS and PaaS : Discuss the differences as well as the advantages and disadvantages of IaaS, SaaS, and PaaS.
Write note to channing explaining the purposes : Maria Channing is an aspiring entrepreneur and friend. Write Note to Channing explaining the purposes of these financial statements and how they are linked.
Implement shared file system within the cloud : Define and describe NAS. Assume you must implement a shared file system within the cloud. What company would you select? Why?
Prepare the journal entry to record organization costs : Cheyenne Corporation was organized in 2019 and began operations at the beginning of 2020. Prepare the journal entry to record organization costs
Prepare depreciation schedules based on as many methods : Prepare depreciation schedules based on as many methods as you can assuming that the output from the machine was 25m, 15m 20m 30m and 10m for years
What does NO mean for Embotelladora : What does NO mean? Embotelladora received $82,000 from a customer as a deposit on merchandise that Embotelladora expects
Unfortunate experience of seeing how computers : We all had the unfortunate experience of seeing how computers can, at times, make life's journey about more difficult.
What the el niño northern oscillation is : Explain briefly what the El Niño Northern Oscillation (ENSO) is and how it would affect the following locations:

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd