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Egret Corporation, a calendar year C Corporation, was formed on March 7, 2012, and opened for business on July 1, 2012. After its formation but prior to opening for business, Egret incurred the following expenditures:

Accounting $7,000
Advertising $14,500
Employee Payroll $11,000
Rent $ 8,000
Utilities $1,000

What Is the maximum amount of these expenditures that Egret can deduct in 2011?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M948945

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