contestada

Novak Corporation commenced operations in early 2020. The corporation incurred $53,000 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries to record the $53,000 expenditure and 2020 amortization, if any.

Respuesta :

Tundexi

Answer:

S/n Date   Account Titles and Explanation      Debit       Credit

1.     2020    Organization expenses                  $53,000

                          Cash                                                            $53,000

             (Being amount paid to underwriters recorded)

2.                    No Entry

                      No Entry

                      (For amortization)

Otras preguntas