Question
JoniMetlockInc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $23,400 Trademarks 14,900 Discount on bonds
JoniMetlockInc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $23,400
Trademarks 14,900
Discount on bonds payable 36,400
Deposits with advertising agency for ads to promote goodwill of company 11,400
Excess of cost over fair value of net identifiable assets of acquired subsidiary 76,400
Cost of equipment acquired for research and development projects;
the equipment has an alternative future use 86,400
Costs of developing a secret formula for a product that is expectedto be marketed for at least 20 years 81,800
On the basis of this information, compute the total amount to be reported byMetlockfor intangible assets on its balance sheet at year-end.
Total amount reported for intangible assets
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