Problem 9-5A (Part Level Submission) The intangible assets section of Marigold Corporations balance sheet at December 31, 2017, is presented here. Patents ($71,900 cost less $7,190 amortization) $64,710 Copyrights ($62,000 cost less $43,400 amortization) 18,600 Total $83,310 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2018. Jan. 2 Paid $54,000 legal costs to successfully defend the patent against infringement by another company. Jan. June Developed a new product, incurring $235,000 in research and development costs. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $10,000. Sept. 1 Paid $62,500 to a quarterback to appear in commercials advertising the companys products. The commercials will air in September and October. Oct. 1 Acquired a copyright for $264,000. The copyright has a useful life and legal life of 50 years.

Problem 9-5A (Part Level Submission) The intangible assets section of Marigold Corporation's balance sheet at December 31, 2017, is presented here. $64.710 Patents ($71,900 cost less $7,190 amortization) Copyrights ($62,000 cost less $43,400 amortization) 18,600 Total $83,310 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets 2018 2 Paid $54,000 legal costs to successfully defend the patent against infringement by another company. Jan. Jan.- June Developed a new product, incurring $235,000 the patent were $10,000. research and development costs. A patent was granted for the product n July 1, and its useful life is equal to its legal life. Legal and other costs for Sept. 1 Paid $62,500 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October. Acquired a copyright for $264,000. The copyright has a useful life and legal life Oct f 50 years. Prepare the intangible assets section of the balance sheet at December 31, 2018. Marigold Corporation Balance Sheet (Partial) December 31, 2018 Intangible Assets Patents Copyrights Total Intangible Assets