At the beginning of 2011, Domino Company incurred the following start-up and organization costs: (1) Attorneys fees

Question:

At the beginning of 2011, Domino Company incurred the following start-up and organization costs:
(1) Attorneys’ fees with a market value of $40,000, paid with 24,000 shares of $1 common stock,
(2) Incorporation fees of $24,000. Calculate total start-up and organization costs. What will be the effect of these costs on the income statement and balance sheet?

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...