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Joni Hyde Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $22,270 Trademarks 18,600 Discount
Joni Hyde Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs | $22,270 | |
Trademarks | 18,600 | |
Discount on bonds payable | 42,750 | |
Deposits with advertising agency for ads to promote goodwill of company | 11,180 | |
Excess of cost over fair value of net identifiable assets of acquired subsidiary | 81,500 | |
Cost of equipment acquired for research and development projects; the | ||
equipment has an alternative future use | 91,760 | |
Costs of developing a secret formula for a product that is expected to | ||
be marketed for at least 20 years | 86,970 |
On the basis of this information, compute the total amount to be reported by Hyde for intangible assets on its balance sheet at year-end. Equipment has alternative future use.
Total intangible assets $ |
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