In its first year of operations, Bell Corporation paid its attorney $4,000 and its accountant $2,000 for services related to the organization of the corporation In its second year of operations, Bell paid the attorney $700 to handle contract negotiations with a new customer Which expenses are immed...

5000 of the 6000 organizational costs are deducted in t ...

In its first year of operations, Bell Corporation paid its attorney $4,000 and its accountant $2,000 for

Question:

In its first year of operations, Bell paid its attorney $4,000 and its accountant $2,000 for services related to the organization of the In its second year of operations, Bell paid the attorney $700 to handle contract negotiations with a new customer. Which expenses are immediately deductible and which ones must Bell amortize?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...