ORGANIZATION COSTS T&R TrackTown has decided to incorporate and has incurred the following costs of organizing: Incorporation

Question:

ORGANIZATION COSTS T&R TrackTown has decided to incorporate and has incurred the following costs of organizing:

Incorporation fees……………..$ 500

Attorneys’ fees………………..6,800

Promotion fees……………….. 4,700

Prepare the entry to record payment of these organization costs for cash on January 20.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

See More Books

Question Posted: Dec 20, 2011 10:40 AM

See More Questions

ORGANIZATION COSTS B&B Electric decided to incorporate and has incurred the following costs of organizing: Incorporation fees$ 400 Attorneys fees 4,800 Promotion expenses..5,700 Prepare the entry to...
The owner of Cheetle Moving and Storage incurred the following costs in acquiring land, making land improvements, and constructing and furnishing the company's office building in the year ended...
Harvey Malon has decided to incorporate his proprietorship. Certain properties of the business have a current value that is greater than their cost amount for tax purposes. These assets are as...
Pretty much any real object takes up space. This can cause confusion when asking, for instance, what is the r position of a car? Do we mean the front end of the car? The back end? Somewhere in...
As part of the analytical procedures of Mahogany Products Ltd, you perform calculations of the following ratios: REQUIRED For each of the preceding ratios: a. State whether there is a need to...
The elements oxygen and sulfur have similar chemical properties because they both have six electrons in their outermost electron shells. Indeed, both elements form molecules with two hydrogen atoms,...
Consider the air pollution and mortality data given in Problem 3.15 and Table B. 15 . Problem 3.15 McDonald and Ayers [1978] present data from an early study that examined the possible link between...
Using the supply and demand functions for avocados in the chapter, derive the demand and supply curves if pt = $ 0.80, Y = $ 4,000, and pf = $ 0.95. What is the equilibrium price and quantity of...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold...
Compare the medium of a wired LAN with that of a wireless LAN in todays communication environment.
STOCKHOLDERS' EQUITY SECTION After closing its books on December 31, 20', Jackson Corporation's stockholders' equity accounts had the following balances: REQUIRED Prepare the stockholders' equity...
DIVIDEND ALLOCATIONS Situation 1 Espino Company has the following stock outstanding: Common Stock Preferred Stock 100,000 shares..9,000 shares $0.50 par value.$20 par, $2 dividend The amount...
Name and describe five criteria for approving changes.
Presented below is financial data for the Outback Company as of year-ends of the prior and current years: Current Year Prior Year Current Assets $70,000 $68,750 Total Assets 130,000 100,000 Current...
If a CD manufacturing company produces a variety of different CDs for computers. The CDs are produced at a rate of 200,000 per day and shipped out at a rate of 20,000 per day. The CDs are produced in...
Congress is required by law to submit a budget resolution in April of each year. What does the congressional budget resolution consist of?
Premium: This is the monthly premium you pay for your health insurance. You typically have to pay a deductible, copayments, and coinsurance in addition to your premium for your medical care. Co-pay:...
Bob and his partner Sam along with 9 other investors create a corporation in 2010 under Texas law, called BobSam Investors, Inc. (BSI). That company has a division operating in Malawi as a...
Among the enterprises that you know, can you identify one that qualifies as a global company? Why?
What is the difference between direct materials and indirect materials?
A water pump driven by a 1000-hp induction motor pumps 100,000 m 3 /day at rated speed. If the motor were run at slower speed using VFD to reduce the flow rate to 80% over a longer time to pump the...
1. Why should managers check the amount spent for overtime? 2. The new controller for TAG Company, a manufacturing firm, has suggested to management that the business change from paying the factory...
1. Why should managers check the amount spent for overtime? 2. The new controller for TAG Company, a manufacturing firm, has suggested to management that the business change from paying the factory...
The amounts of employee income tax withheld and social security and Medicare taxes (both employee and employer shares) shown below were owed by different businesses on the specified dates. In each...
Question: d. ?During December, Ingrid Legal Services provided legal services, and the client prepaid $7,000. ?Ingrid Legal Services recorded this amount as Unearned Revenue. The job will take several...
Question: A company had the following purchases and sales during the month of November:\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[November 1,Beginning inventory,5 units @...
Question: Tania, Inc. issued a note payable with principal and interest due at the end of the term of the note. Details about the note payable are as follows:Issuance date: October 1, fear...

ORGANIZATION COSTS T&R TrackTown has decided to incorporate and has incurred the following costs of organizing: Incorporation

Question:

Step by Step Answer:

DATE GENERAL JOURNAL ...View the full answer

College Accounting

Students also viewed these Accounting questions