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:
- Expense Date Amount
- Attorney fees for articles of
- incorp February 10 $38,000
- March 1-March 30 wages March 30 $3,800
- March 1-March 30 rent March 30 $1,900
- Stock issuance April 1 $21,000
- April 1-May 30 wages May 30 $9,500
A. What amount of the start-up costs and organizational expenditures may the corporation immediately expense in year 1?
- Total amount of the start-up costs $
- Organizational expenditures $