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Indicate what the intangible asset account balances should be on December 31,2022. On January 1. 2022. Ivanhoe Company had a balance of $371.500 of goodwill
Indicate what the intangible asset account balances should be on December 31,2022. On January 1. 2022. Ivanhoe Company had a balance of $371.500 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2022, the compary had the following additional transactions. Jan 2 Purchased a patent (5year life) $334,950. July 1 Acquired a 9-year franchise: expiration date July 1, 2.031, 5590,400. Sept. 1 Research and development costs $184,000. Make an entry as of December 31. 2022, recording any necessary amortization. (Round onswers to 0 decimal places eg. 125. Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry a required, select "No Entry" for the occount titles and enter 0 for the amounts
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