Reference no: EM133174558
Question - Carla Vista Electric Inc. has the following amounts included in its general ledger at December 31, 2020:
Organization costs $35,400
Purchased trademarks 17,800
Development phase activities (meet all six development phase criteria) 29,700
Deposits with advertising agency for ads to promote goodwill of company 8,300
Excess of cost over fair value of identifiable net assets of acquired subsidiary 80,700
Cost of equipment acquired for research and development projects; the equipment has an alternative future use 125,200
Costs of researching a secret formula for a product that is expected to be marketed for at least 20 years 74,600
Payment for a favourable lease; lease term of 10 years 15,500
Required - Based on the information provided, calculate the total amount for Carla Vista to report as intangible assets on its statement of financial position at December 31, 2020. Assume Carla Vista uses IFRS to prepare its financial statements.
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