Refer to the financial statements and related notes of the Coca Cola Company in Appendix A of this book Required 1 What was the total amount of intangible assets that the company reported at the end of 2004, and what was the amount of each component 2 Do you think that the company has additional in...

1 3836 consisting of 2037 of trademarks with indefinite lives 1097 of goodwill and 702 of other inta ...

Refer to the financial statements and related notes of the Coca-Cola Company in Appendix A of this

Question:

Refer to the and related notes of the Coca-Cola Company in Appendix A of this book.

Required
1. What was the total amount of that the company reported at the end of 2004, and what was the amount of each component?
2. Do you think that the company has additional “intangibles” that are not recorded on the balance sheet? Why? How would this issue affect your understanding of the company’s financial performance?
3. Re-create summary journal entries to record the transactions and events that affected the “amortized ” in 2004, assuming there were no sales.
4. Compute the estimated average life of the “amortized .”
5. Why does the company amortize some of its but not others?

Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...