Zemor Company, a newly organized corporation, received a bill from its lawyers for $12,000 for time spent

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Zemor Company, a newly organized corporation, received a bill from its lawyers for $12,000 for time spent in organizing the company.
1. How should these costs be treated in the financial reports?
2. How should they be treated for federal income tax purposes?
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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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