Presented below is selected information related to Matt Perry Inc. as of December 21, 2012. All these items have debit balances.
Cable television franchises .........Film contract rights
Music copyrights ...............Customer lists
Research and development costs .........Prepaid expenses
Goodwill ................Covenants not to compete
Cash ....................Brand names
Discount on notes payable ..........Notes receivable
Accounts receivable .............Investments in affiliated companies
Property, plant, and equipment .......Organization costs
Internet domain name ...........Land
Instructions
Identify which items should be classified as an intangible asset. For those items not classified as an intangible asset, indicate where they would be reported in the financial statements.