Reference no: EM132448228
ACC422 Intermediate Financial Accounting Assignment - University of Phoenix, USA
Question - Joni Marin Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $23,300
Trademarks 14,700
Discount on bonds payable 36,300
Deposits with advertising agency for ads to promote goodwill of company 11,300
Excess of cost over fair value of net identifiable assets of acquired subsidiary 76,300
Cost of equipment acquired for research and development projects; the equipment has an alternative future use 86,300
Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 81,600
Required - On the basis of this information, compute the total amount to be reported by Marin for intangible assets on its balance sheet at year-end.