Question
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2018. In connection with its formation, Cherry incurs organizational expenditures of $54,600.
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2018. In connection with its formation, Cherry incurs organizational expenditures of $54,600.
Round the per month amount to two decimal places. Round your final answer to the nearest dollar.
Determine Cherry Corporation's deduction for organizational expenditures for 2018.
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
12th edition
132552620, 978-0132552622
