Question
Multiple Choice Goosen Company bought a copyright for $92,400 on January 1, 2018, at which time the copyright had an estimated useful life of
Multiple Choice Goosen Company bought a copyright for $92,400 on January 1, 2018, at which time the copyright had an estimated useful life of 15 years. On January 5, 2021, the company determined that the copyright would expire at the end of 2026. How much should Goosen record retrospectively as the effect of change? $0. $6,160. $7,700. $13,860.
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Financial and Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
12th edition
978-1133952428, 1285078578, 1133952429, 978-1285078571
