At the beginning of 2011 patel company incurred the, Ask an Expert

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At the beginning of 2011, Patel Company incurred the following start-up and organization costs: (1) attorneys' fees with a market value of $20,000, paid with 12,000 shares of $1 par value common stock, and (2) incorporation fees of $12,000.

Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

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Category:- Basic Finance
Reference No.:- M92095166

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