Solution-Compute total amount reported for intangible assets

Compute total amount reported for intangible assets

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Reference no: EM132749726

Question - Joni Metlock Inc. has the following amounts reported in its general ledger at the end of the current year.

Organization costs $23,400

Trademarks 14,900

Discount on bonds payable 36,400

Deposits with advertising agency for ads to promote goodwill of company 11,400

Excess of cost over fair value of net identifiable assets of acquired subsidiary 76,400

Cost of equipment acquired for research and development projects; the equipment has an alternative future use 86,400

Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 81,800

On the basis of this information, compute the total amount to be reported by Metlock for intangible assets on its balance sheet at year-end.

Required - Compute total amount reported for intangible assets?

Reference no: EM132749726

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Compute total amount reported for intangible assets

Reference no: EM132749726

Reference no: EM132749726

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