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Joni Marin Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $22,200 Trademarks 12,500 Discount
Joni Marin Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs | $22,200 | |
Trademarks | 12,500 | |
Discount on bonds payable | 35,200 | |
Deposits with advertising agency for ads to promote goodwill of company | 10,200 | |
Excess of cost over fair value of net identifiable assets of acquired subsidiary | 75,200 | |
Cost of equipment acquired for research and development projects; the | ||
equipment has an alternative future use | 85,200 | |
Costs of developing a secret formula for a product that is expected to | ||
be marketed for at least 20 years | 79,400 |
(a) On the basis of this information, compute the total amount to be reported by Marin for intangible assets on its balance sheet at year-end.
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