Business, 02.06.2020 23:00 momo26590

Metlock Industries acquired two copyrights during 2020. One copyright related to a textbook that was developed internally at a cost of $9,300. This textbook is estimated to have a useful life of 3 years from September 1, 2020, the date it was published. The second copyright (a history research textbook) was purchased from University Press on December 1, 2020, for $40,000. This textbook has an indefinite useful life.
Required:
a) How should these two copyrights be reported on Metlock’s balance sheet as of December 31, 2020?

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Metlock Industries acquired two copyrights during 2020. One copyright related to a textbook that was...

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