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kramer
2 years ago
9

Flint Corporation commenced operations in early 2020. The corporation incurred $58,500 of costs such as fees to underwriters, le

gal fees, state fees, and promotional expenditures during its formation.
Required:
Prepare journal entries to record the $58,500 expenditure and 2020 amortization, if any.
Business
1 answer:
Alekssandra [29.7K]2 years ago
6 0

Answer and Explanation:

The journal entry is shown below:

1. Organization expense Dr $58,500

     To cash $58,500

(Being organization expense is recorded)

Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance

2. No entry is required as the amortization is recorded for only intangible assets

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Answer:

hello your question has some missing part attached below is the missing demand curve

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1) the quantity of health procedures Individuals will demand is greater than the optimal quantity ( 20  procedures )

2)  quantity of medical procedure

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Explanation:

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Answer:

Year           Dry Prepreg          discounted cash flow

0                   -$30,000                -$30,000

1                        10,000                    8,772

2                       10,000                    7,695

3                       10,000                    6,750

4                       10,000                    5,921

5                       10,000                    5,194

Year           Solvent Prepreg.           discounted cash flow

0                         -$90,000                   -$90,000

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