Clark Exploration Corporation was organized and began operations on October 1, 2014. It incurs $41,000 in legal fees to obtain the corporate charter. The corporation elects to expense its organizational costs over the shortest allowable period. What amount will Clark report for organizational expenses for 2014?

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The Answer of Clark Exploration Corporation was organized and began operations on October 1, 2014. It incurs $41,000 in legal fees to obtain the corporate charter. The corporation elects to expense its organizational costs over the shortest allowable period. What amount will Clark report for organizational expenses for 2014?

Clark Exploration Corporation Was Organized and Began Operations on October