Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2022. In connection with its formation, Cherry incurs organizational expenditures of $52,800. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year. 3,605.55 X

Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/2022. In connection with its formation, Cherry incurs organizational expenditures of $52,800. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year. 3,605.55 X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please answer, round off final answers to two decimal places (3)
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