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how treat football player in balance sheet?

how treat football player in balance sheet?

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Answer #1

The football players which a company has acquired under a contract will usually provide some economic benefits to the company in future.

So the football player acquired by the company will be treated as an intangible asset in the balance sheet.

The cost of acquiring the football player will be capitalized. The amount which is capitalized will be amortized each year at straight line method over the contractual period of player.

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