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Unformatted text preview: (b) Prepare the journal entry to record organizational costs fo Account/Description Debit Organization cost expense 24,202 Cash(Payables) AE12-8 (a) Attorney's fees in connection with organization of the company $16,829 Costs of meetings of incorporators to discuss organizational activities 5,374 State filing fees to incorporate 1,999 Total organization costs $24,202 Drafting and design equipment, $10,483, should be classified as part of fixed assets, rather than as organ (b) Account/Description Organization cost expense Cash (Payables) (To record organizational expense.)...
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- Spring '09