estion: 11. Given The Following Account balances At Yea 1. Given the following account balances at year end, compute the total intangible assets on the balance sheet of Fiorella Enterprises. Cash $1,500,000 Accounts Receivable 4,000,000 Trademarks 1,000,000 Goodwill 4,500,000 Research & Development Costs 2,000,000 a. S11,500,000 b. $7,500,000 c. $5,500,000 d. $9,500,000 12. On May 1, 2015. Wagner Company purchased a patent for $75,000. It is estimated that the patent will be useful life of 5 years, and a 20-year legal life. The amount of Amortization Expense recognized for they 2015 would be aS15,000. b S10,000. S7 500. d 53.750. This problem has been solved! See the answer Show transcribed image to Expert Answer $57.000 Failure to record depreciation expense causes which of the following to occur. a. Current assets are not allected and liabilities are understated. b. Current assets are overstated and retained earings is overstated e. Current assets are not affected and retained eamings is overstated. d. Current assets are overstated and retained earnings is understated