following account balances at year end, compute the total intangible asets on the balance sheet of Fiorella Enterprises. Cash Accounts Receivable Trademarks Goodwill Research & Development Costs $1,500,000 4,000,000 1,000,000 4,500,000 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 wi useful life of 5 years, and a 20-year legal life. The amount of Amortization Expense recognized for the 2015 would be a. $15,000. b. $10,000. c. $7,500. d. $3,750. 13. The following totals for the month of April were taken from the payroll register of Main Company: $24,000 1,100 5,000 900 64 Salaries FICA taxes withheld Income taxes withheld Medical insurance deductions Federal Unemployment Taxes State Unemployment Taxes 432 The entry to record accrual of employer's payroll taxes would include a a. debit to Payroll Tax Expense for $496. b. debit to Payroll Tax Expense for $1,596. c. credit to FICA Taxes Payable for $2,200. d. credit to Payroll Tax Expense for $496. From the standpoint of the issuing company, a disadvantage of using bonds as a means of long-term financing 14. is that a. bond interest is deductible for tax purposes. b. interest must be paid on a periodic basis regardless of earnings. c. income to stockholders may increase as a result of trading on the equity. d. the bondholders do not have voting rights. The interest charged on a $200,000 note payable, at the rate of 8%, on a 90-day note would be a. $16,000. b. $8,888. c. $4,000. d. $1,333. 15. John Jackson purchases a house with a 30 year fixed mortgage with 360 equal monthly payments of $1,800. Page 3 of 10 16