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Sonja [21]
2 years ago
9

Larkspur Industries acquired two copyrights during 2020.

Business
1 answer:
denpristay [2]2 years ago
3 0

Answer:

1st copyright will not be reported on balance sheet.

2nd copyright will be reported on balance sheet.

Dr Copyright (Intangible Asset) $34,000

Cr Cash $34,000

Explanation:

<u>1st Copyright</u>

If an intangible asset is internally generated, none of its costs are capitalized.

<u>2nd Copyright</u>

Acquired copyright is reported on balance sheet as an intangible asset. Company may include only outright purchase costs in the acquisition cost of an intangible asset; the acquisition cost does not include cost of internal development.

Only recognized intangible assets with finite useful lives are amortized. Recognized intangible assets having indefinite useful lives are not amortized.

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Answer:

the estimated total cost for the coming year is $12,227.60

Explanation:

The computation of the estimated total cost is shown below:

y

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This is the answer but not the same is to be given in the options

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7 0
3 years ago
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zimovet [89]

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7 0
3 years ago
A monopolist can sell 26,000 units at a price of $30 per unit. lowering price by $1 raises the quantity demanded by 1,000 units.
Nutka1998 [239]
If he sells the shares at 30 per unit, the equation would be:
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3 years ago
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WINSTONCH [101]

Answer:

Organic structure.

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