(Accounting for Organization Costs) Horace Greeley Corporation was organized in 2002 and began operations at the beginning...

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(Accounting for Organization Costs) Horace Greeley Corporation was organized in 2002 and began operations at the beginning of 2003. The company is involved in interior design consulting services.

The following costs were incurred prior to the start of operations.

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Instructions

(a) Compute the total amount of organization costs incurred by Greeley.

(b) Prepare the journal entry to record organization costs for 2003.

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Intermediate Accounting

ISBN: 9780471448969

11th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jul 18, 2024 10:14 AM

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(Accounting for Organization Costs) Horace Greeley Corporation was organized in 2002 and began operations at the beginning...

Question:

Attorney's fees in connection with organization of the company $15,000 Purchase of drafting and design equipment 10,000 Costs of meetings of incorporators to discuss organizational activities 7,000 State filing fees to incorporate 1,000 $33,000

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Intermediate Accounting

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