pumny
On January 2, 2027, Dabney Company purchased a copyright from North Company
for [tex]$200,000. The copyright was recorded on North's books for $[/tex]160,000. It is
estimated that the copyright has a remaining useful life of 2 years. Use the following
tabular analysis to make the adjustment for amortization expense on Dabney's books
for the year 2027.
Assets
Liabilities +
Stockholders' Equity
Accounts
Common
Retained Earnings
Cash + Patents
Payable + Stock +Rev. Exp. Div.
increase Expenses and decrease Cash [tex]$100,000
increase Revenue $[/tex]40,000, increase Copyrights [tex][tex]$160,000 and decrease Cash
$[/tex][/tex]200,000
increase Expenses and decrease Copyrights [tex]$80,000
increase Expenses and decrease Copyrights $[/tex]100,000