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Franchise from Paine, Inc., on January 2, 2008




Smith Co. bought a window franchise from Paine, Inc., on January 2, 2008, for $100,000. A highly regarded independent research company estimated that the remaining useful life of the franchise was 50 years. Its unamortized cost on Paine's books at January 1, 2008, was $15,000. Smith has decided to write off the franchise over the longest possible period. How much should be amortized by Smith Co. for the year ended December 31, 2008?;A) $375;B) $2,000;C) $2,500;D) $15,000


Paper#26571 | Written in 18-Jul-2015

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