Horace Greeley Corporation was organized in 2013 and began operations at the beginning of 2014. The company is involved in interior design consulting services. The following costs were incurred prior to the start of operations.

Instructions
(a) Compute the total amount of organization costs incurred by Greeley.
(b) Prepare the journal entry to record organization costs for2014.

Transcribed Image Text:

Attorney's fees in connection with organization of the company Purchase of drafting and design equipment Costs of meetings of incorporators to discuss $15,000 10,000 organizational activities State filing fees to incorporate 7,000 1,000 $33,000