We have formed a corporation with 3 stockholders. Each of us is to put in $10,000 or show proof of $10,000 in start up costs/expenses paid thus far. Are these expenses expensed or not?
In peachtree, there are 2 accounts – 20000 Accounts Payable and 23000 Accrued Expenses. What are the differences between the uses of these two accounts?
Thanks!