Problem 10-73 (LO 10-4) (Algo)

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Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures associated with getting the corporation started: (Leave no answer blank. Enter zero if applicable.)

Problem 10-73 Part c (Algo)

c. What amount can the corporation deduct as amortization expense for the organizational expenditures and for the start-up costs for year 1 (not including the amount determined in part b)? (Round intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.)

Problem 10-73 Part d (Algo)

d. What would be the total allowable organizational expenditures if Nicole started a sole proprietorship instead of a corporation?

Expense Attorney fees for articles of incorporation March 1-March 30 wages March 1-March 30 rent Stock issuance costs April 1-May 30 wages Date February 10 March 30 March 30 April 1 May 30 Amount $ 35,500 4,900 2,350 34,000 12,250 Problem 10-73 Part c (Algo) c. What amount can the corporation deduct as amortization expense for the organizational expenditures and for the start-up costs for year 1 (not including the amount determined in part b)? (Round Intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Start-up costs amortized Organizational expenditures amortized Problem 10-73 Part d (Algo) d. What would be the total allowable organizational expenditures if Nicole started a sole proprietorship instead of a corporation? Allowable organizational expenditure