Quiz 20: Corporations: Formation and Capital Stock Transactions
Organization Costs Are Carried Indefinitely as an Intangible Asset in the Records
Organization costs are carried indefinitely as an intangible asset in the records of the corporation.
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Organization costs are often expensed when incurred.
Preferred Stock is shown in the Stockholders' Equity section of the balance sheet.
The amount received in excess of the par value of preferred stock issued is recorded in an account called Paid-in Capital in Excess of Par Value-Preferred Stock.
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