[The following information applies to the questions displayed below.]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.+EquityRev.?Exp.=Net Inc.Stmt of Cash FlowA.NA NA ++ NA ++FAB.? NA ?NA + ??IAC.NA NA NANA NA NA?IAD.+ NA +NA NA NA?OA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: C
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