Reference no: EM132743539
Question: The following accounts were found in the general ledger of Passion Company as of December 31, 2020:
Unamortized discount on bonds payable 120,000
Losses in early years of company 450,000
Trademarks 750,000
Patents 150,000
Amount set up by Board of Directors as goodwill 300,000
Deposits with advertising agency which will be used to promote goodwill 45,000
Organization costs 50,000
Unamortized bond discount 155,000
Copyright 244,000
Franchise to operate in Cebu 100,000
Marketing costs of introducing new products 150,000
Research and development costs expected to benefit future periods 420,000
What is the total amount of intangible assets?