Joni Tamarisk Inc. has the following amounts reported in its general ledger at the end of...
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Joni Tamarisk Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $22,800 Trademarks 13,700 Discount on bonds payable 35,800 Deposits with advertising agency for ads to promote goodwill of company 10,800 Excess of cost over fair value of net identifiable assets of acquired subsidiary 75,800 Cost of equipment acquired for research and development projects; the equipment has an alternative future use 85,800 Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 80,600 (a) On the basis of this information, compute the total amount to be reported by Tamarisk for intangible assets on its balance sheet at year-end. Total amount reported for intangible assets Joni Tamarisk Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $22,800 Trademarks 13,700 Discount on bonds payable 35,800 Deposits with advertising agency for ads to promote goodwill of company 10,800 Excess of cost over fair value of net identifiable assets of acquired subsidiary 75,800 Cost of equipment acquired for research and development projects; the equipment has an alternative future use 85,800 Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 80,600 (a) On the basis of this information, compute the total amount to be reported by Tamarisk for intangible assets on its balance sheet at year-end. Total amount reported for intangible assets
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a Calkulation of ntangible assets Intangible assets Mainly trade manks ... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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