Pine Corporations adjusted trial balance contained the following asset accounts at December 31, 2023: Prepaid Rent $22,000;

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Pine Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2023: Prepaid Rent $22,000; Goodwill $50,000; Franchise Fees Receivable $2,000; Intangible Assets—Franchises $47,000; Intangible Assets—Patents $33,000; and Intangible Assets—Trademarks $10,000. Prepare the intangible assets section of the statement of financial position.

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Intermediate Accounting Volume 1

ISBN: 9781119740469

13th Canadian Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

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