At the beginning of 2011, Patel company incurred the following start-up and organization costs: (1) Attorneys fees
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At the beginning of 2011, Patel company incurred the following start-up and organization costs:
(1) Attorney’s 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?
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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