At the beginning of 2011 Domino Company incurred the following
At the beginning of 2011, Domino Company incurred the following start-up and organization costs:
(1) Attorneys’ fees with a market value of $40,000, paid with 24,000 shares of $1 par value common stock,
(2) Incorporation fees of $24,000. Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

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