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GrogVix [38]
3 years ago
12

Bricktown Exchange purchases a copyright for $50,000. The copyright has a remaining legal life of 25 years, but only an expected

useful life of five years with no residual value. Assuming the company uses the straight-line method, what is the carrying value at the end of the second year?
A. $10,000.B. $40,000.C. $50,000.D. $30,000.
Business
1 answer:
son4ous [18]3 years ago
5 0

Answer:

Correct option is (D)

Explanation:

Given:

Purchase price of copyright = $50,000

Expected useful life = 5 years

Annual depreciation expense as per straight line method:

= Purchase price ÷ useful life

= 50,000 ÷ 5

= $10,000

Only useful life is considered and not legal life.

Carrying value of asset at the end of year = Book value of asset - annual depreciation

Carrying value of copyright at then end of first year = 50,000 - 10,000 = $40,000

Carrying value of copyright at then end of second year = 40,000 - 10,000 = $30,000

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Answer:

B: The net profit of installing the garage.

Explanation:

The opportunity cost is the next best thing that you could be doing but chose to give up in order to do something else. For example, if I chose to spend the day studying for a test, I won't have as much time to watch cat videos, hang out with my friends, or work on the website I'm coding. Since I love coding more than anything in the world, the time I could've spent coding is the opportunity cost of choosing to study.

A and C can be safely eliminated because they are describing the business expenses of the contractor, not what they could be missing out on if they choose to renovate the bathroom. In this case, D wouldn't make any sense since they wouldn't be missing out on any profits from the bathroom project at all. Therefore, the correct answer is B. The contractor can't be in two places at once, and by choosing the bathroom, they're passing up the opportunity to work on the garage and any resulting profits.

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Answer:

inevitable, but maintaining a degree of tension can actually be helpful in keeping a group energized and creative

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<h3>What is a Scatter chart?</h3>

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