Reference no: EM132526071

Question 1: The records of Blair Co. show the ff:

1. Masthead, purchased from a competitor. 50,000.
2. Costs of marketing research. 30,000
3. Web site costs for external use, customers can place orders on the web site. 60,000
4. Web site costs, for external use, customers cannot place orders on the web site. 40,000
5. Excess of cost over fair value of identifiable net assets of acquired associate. 100,000
6. Subsequent expenditures on a recognized trademark. 20,000

How much will be shown as intangible assets in Blair's year-end statement of financial position?

Question 2: K Co. incurred the ff. expenditures on internally developed intangible assets:

Internally developed goodwill. 100,000

Brands. 230,000

Mastheads. 50,000

Publishing titles. 100,000

Customer lists. 70,000

K Co. incurred 100,00 additional costs in maintaining the customer lists. K Co. treated all the intangible assets as with indefinite useful life.

How much is the total carrying amount of the calitalized intangibke assets at year-end?