Question
Hello, Please help and advise, if my answer are correct, if not please correct. and the last one, I am stuck. Juliette formed a new
Hello,
Please help and advise, if my answer are correct, if not please correct. and the last one, I am stuck.
Juliette formed a new business to sell sporting goods this year. The business opened its doors to customers on June 1. Determine the amount of start-up costs Juliette can immediately expense (not including the portion of the expenditures that are amortized over 180 months) this year in the following alternative scenarios: (Leave no answer blank. Enter zero if applicable.)
a. She incurred start-up costs of $3,600.
My answer: Amount of start-up costs immediately expensed $3,600
b. She incurred start-up costs of $43,750.
My answer: Amount of start-up costs immediately expensed $6,250
c. She incurred start-up costs of $52,750.
My answer: Amount of start-up costs immediately expensed $2,250
D. She incurred start-up costs of $64,000.
My answer: Amount of start-up costs immediately expensed $0
Juliette formed a new business to sell sporting goods this year. The business opened its doors to customers on June 1. Determine the amount of start-up costs Juliette can immediately expense (not including the portion of the expenditures that are amortized over 180 months) this year in the following alternative scenarios
e. How would you answer parts (a) through (d) if she formed a partnership or a corporation and she incurred the same amount of organizational expenditures rather than start-up costs (how much of the organizational expenditures would be immediately deductible)?
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