Dragon Co. was founded on June 1, 2018 and began operations January 1, 2019. The following costs
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$5,000CPA fee to form partnership
$440 State partnership filing fee
$20,000 Office Renovations
$12,000Marketing materials sent to known theme-park customers
$60,000Purchase of company vehicles
$30,000 Cost to purchase Dragon Co. trademark
$14,000 R&D costs in developing proprietary design for new theme park
$3,000 Legal fees defending a patent in court. The legal efforts were unsuccessful.
Instructions
Please highlight which transactions Dragon Co. would expense in 2018?
Related Book For
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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