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koban [17]
3 years ago
11

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. Assume the company uses the straight-line method to record amortization. What is the carrying value of the copyright at the end of the first year?
Business
1 answer:
Fittoniya [83]3 years ago
3 0

Answer:

$40,000

Explanation:

Straight line ammortization expense each year = (Cost of the asset - Salvage value) / useful life

$50,000 / 5 = $10,000

Carrying value = Cost of asset - amortization expense = $50,000 - $10,000 = $40,000

I hope my answer helps you

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Why do you think different college majors pay for themselves at different rates?
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