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I think I may have an answer but I'm really unsure! Any help is appreciated! 4) Hornbill Corporation, a cash basis and calendar year C
I think I may have an answer but I'm really unsure! Any help is appreciated!
4) Hornbill Corporation, a cash basis and calendar year C corporation, was formed and began operations on May 1, 2019. Hornbill incurred the following expenses during its first year of operations (May 1- December 31, 2019), temporary directors meeting expenses of $10,500, state of incorporation fee of $5,000, stock certificate printing expenses of $1,200, and legal fees for drafting corporate charter and Bylaws of $7,500. Wanting to deduct as much as possible in the current year, Hornbill Corporation's 2019 deduction for organizational expenditures is $Step by Step Solution
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