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Blue Spruce Industries Ltd. acquired two copyrights during 2023 . One copyright was on a textbook that was developed internally at a cost of $37,600.
Blue Spruce Industries Ltd. acquired two copyrights during 2023 . One copyright was on a textbook that was developed internally at a cost of $37,600. This textbook is estimated to have a useful life of 4 years from July 1,2023 , the date it was published. The second copyright is for a history research textbook and was purchased from University Press on October 1, 2023, for $56,400. This textbook seems to have an indefinite useful life. How should these two copyrights be reported on Blue Spruce's statement of financial position as at December 31, 2023? Copyright No. 1 should be Copyright No. 2 should be . It would be reflected on the December 31, 2023 . It would be reflected on the December 31, 2023 at $ at $ Blue Spruce Industries Ltd. acquired two copyrights during 2023. One copyright was on a textbook that was developed internally at a cost of $37,600. This textbook is estimated to have a useful life of 4 years from July 1,2023 , the date it was published. The second copyright is for a history research textbook and was purchased from University Press on October 1, 2023, for $56,400. This textbook seems to have an indefinite useful life. How should these two copyrights be reported on Blue Spruce's statement of financial position as at December 31, 2023? . It would be reflected on the December 31,2023 at $ . It would be reflected on the December 31, 2023 at $
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