Exercise 12-15

Novak Corporation was organized in 2016 and began operations at the beginning of 2017. The company is involved in interior design consulting services. The following costs were incurred prior to the start of operations.

Exercise 1 2- 15 Novak Corporation was organized in 2016 and began operations at the beginning of 201?. The company is involved In intJerlor design consulting servica. The following costs were incurred prior to the start of operatlons. Athomey's Fag In connection with organization ofthe company $16,100 Purchase of drafting and daign equipment 11,100 Cosls of meetings of incorporatJors to discuss organizational activities 6,000 State ling Fees to incorporate 2,000 $35,200 Compute the total amount of organization costs incurred by Novak. Total organization costs $ Prepare the journal entry to record organizatlon costs for 201?. (Credit account tl'ties are automaticaiiy indentetlI when amount is entered. Do not indent manualiy. If no entry .I's required, select "No Entry" for the account titles and enter 0 for the amounts.) Account TIl:les and Explanation Deblt Credit