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Yuki Corporation, which began business in 2019, incurred the following costs in 2019 in connection with organizing the corporation: Printing of stock certificates $ 5,000 Underwriters’ commissions on sale of stock 100,000What portion of these costs qualifies as amortizable organizational expenditures? Group of answer choices $105,000 $100,000 $ 5,000 $0

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jepessoa

Answer:

The answer is: $0

Explanation:

Organizational expenditures are the initial costs incurred in creating an organization, for example:

  • Legal services
  • Accounting services
  • Fees paid for temporary directors and organizational meetings
  • Registration fees

Organizational expenditures do not include the following:

  • Fees associated with the issuance and sale of corporate stocks (e.g. printing fees, broker commissions, related professional fees)
  • Expenses in connection with the transfer of assets to the corporation
  • Fees for issuing debt

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