The Chambers Corporation was formed in early 2017. At the time of formation, Chamber spent the following amounts: accounting fees, $4,000; legal fees, $8,000; stock certificate costs, $3,000; initial franchise fee, $10,000; initial lease payment, $5,000; promotional fees, $3,000. Chamber intends to capitalize and amortize intangibles over the maximum allowable period in accordance with generally
accepted accounting principles. Based on this strategy, what is Chambers's expense associated with organization costs in 2017?
A) $ 6,000
B) $18,000
C) $28,000
D) $33,000
B
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Which of the following does NOT fit the typical stereotype of persons in the United States?
a. friendly b. hard working c. monolingual d. stingy
Which of the following statements is true with regard to costs of quality?
a. Internal failure costs are costs that result from defects or quality problems discovered inside the factory. b. External failure costs are costs resulting for defects in distribution or warehousing of products (i.e., outside the manufacturing facility). c. An example of internal failure costs is the cost of managing product returns by unsatisfied customers. d. An example of external failure costs is the cost of handling product warranties.
The frequency with which technological developments occur is an insignificant factor to consider when deciding whether equipment should be leased or purchased
Indicate whether the statement is true or false.
In an organization in which the OE/S and B/AR/CR processes are separate processes, the B/AR/CR process usually accomplishes all of the following activities except:
A. picking goods in the warehouse B. billing customers C. managing customer accounts D. securing payment of customer accounts