Special Deductions and Limitations (LO 11.3) Katsura Corporation incurred pre-operating costs: • Investigatory expenses of $17,000 • New employee training $25,000 • Advertising $10,000 • Land and building for use as a retail store when opened $150,000 Round your answer to 2 decimal places. Katsura wishes to maximize its deduction for start-up costs. Assuming they open for business on February 27th of the current year, what is the deduction for start-up costs?

Special Deductions and Limitations (LO 11.3) Katsura Corporation incurred pre-operating costs: • Investigatory expenses of $17,000 • New employee training $25,000 • Advertising $10,000 • Land and building for use as a retail store when opened $150,000 Round your answer to 2 decimal places. Katsura wishes to maximize its deduction for start-up costs. Assuming they open for business on February 27th of the current year, what is the deduction for start-up costs?

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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