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TB MC Qu. 20-51 (Algo) Goosen Company bought a copyright for... Goosen Company bought a copyright for $94.800 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? Multiple Choice $4,320 $7500 $14,220

TB MC Qu. 20-51 (Algo) Goosen Company bought a copyright for... Goosen Company bought a copyright for $94.800 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? Multiple Choice $4,320 $7500 $14,220

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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TB MC Qu. 20-51 (Algo) Goosen Company bought a copyright for... Goosen Company bought a copyright for $94,800 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? O 50 56,120 $7500 $14.220
Transcribed Image Text:TB MC Qu. 20-51 (Algo) Goosen Company bought a copyright for... Goosen Company bought a copyright for $94,800 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? O 50 56,120 $7500 $14.220
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