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What should be reported as total intangible assets

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Reference no: EM133186000

Question - The general ledger of Grumpy Corporation as of December 31, 2021, includes the following accounts:

Copyrights P30,000

Deposits with advertising agency (will be used to promote goodwill) 27,000

Discount on bonds payable 70,000

Excess of cost over fair value of identifiable net assets of acquired subsidiary 90,000

Trademarks 90,000

In the preparation of Grumpy's balance sheet as of December 31, 2021, what should be reported as total intangible assets?

Reference no: EM133186000

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