Question: Brick Oven Corporation was organized early in 2015 The following

Brick Oven Corporation was organized early in 2015. The following expenditures were made during the first few months of the year:
Attorneys’ fees to organize the corporation ..... $ 9,000
Purchase of a patent .............. 40,000
Legal and other fees for transfer of the patent ...... 2,500
Preopening employee salaries ........... 80,000
Total .................... $ 131,500

Required:
Record the $ 131,500 in cash expenditures.


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  • CreatedJuly 15, 2014
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