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Question
Joni Larkspur Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $22,100 Trademarks 12,300 Discount on bonds payable 35,100 Deposits with advertising agency for ads to promote goodwill of company 10,100 Excess of cost over fair value of net identifiable assets of acquired subsidiary 75,100 Cost of equipment acquired for research and development projects; the equipment has an alternative future use85,100Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 79,200
On the basis of this information, compute the total amount to be reported by Larkspur for intangible assets on its balance sheet at year-end.
Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.
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