On January 1, Year 1, Vanguard Company purchased a copyright for $12,000. Vanguard estimated the...
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Accounting
On January 1, Year 1, Vanguard Company purchased a copyright for $12,000. Vanguard estimated the remaining useful life of the copyright to be 6 years. Which of the following correctly shows the effect of Vanguard's purchase of the copyright on the elements of the financial statements? Assets = Liab. + Equity Rev. Exp. = Net Inc. Stmt of Cash Flow
| Assets | = | Liab. | + | Equity | Rev. | Exp. | = | Net Inc. | Stmt of Cash Flow | ||
| A. | NA | NA | + | + | NA | + | +FA | ||||
| B. | NA | NA | + | IA | |||||||
| C. | NA | NA | NA | NA | NA | NA | IA | ||||
| D. | + | NA | + | NA | NA | NA | OA |
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