Windsor Industries acquired two copyrights during 2017. One copyright related to a textbook that was developed internally
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Windsor Industries acquired two copyrights during 2017. One copyright related to a textbook that was developed internally at a cost of $16,000. It is estimated that this textbook will have a useful life of 5 years from September 1, 2017, the date of its publication. The second copyright (a history research textbook) was purchased from University Press on December 1, 2017 for $48,000. This textbook has an indefinite shelf life.
How should these two copyrights be reported on Windsor's balance sheet as of December 31, 2017?
Copyright #1: $
Copyright #2: $
Related Book For
Intermediate Accounting 2014 FASB Update
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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