The Nandina Corporation Was Formed and Began Operations on July $\quad$

question 38

Multiple Choice

The Nandina Corporation was formed and began operations on July 1,2013,and incurred the following expenses during the year: State fees for incorporation $\quad$$\quad$$\quad$$\$ 800$
Legal and accounting fees incident to organization $\quad$ $\$ 1,500$
Legal fees for the issuance of stock $\quad$$\quad$ $\$ 600$
Temporary directors' fees $\quad$$\quad$$\quad$ $\$ 1,000$ If the corporation chooses not to expense but rather amortizes organizational costs over 180 months,what is the amount of its amortization expense for 2013?

• A)$0
• B)$110
• C)$130
• D)$220
• E)None of the above

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Definitions:

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A government-determined threshold which indicates the minimum level of income deemed necessary to achieve an adequate standard of living in a given country.

Department of Agriculture

A federal executive department responsible for developing and executing federal laws related to farming, forestry, rural economic development, and food.