Question
. Klee Company reported the following data at year-end: Franchise P1,000,000 Computer software 1,500,000 Deferred charges 100,000 Patent 2,500,000 Customer list 500,000 Copyright 700,000 Deposit
. Klee Company reported the following data at year-end:
| Franchise | P1,000,000 |
| Computer software | 1,500,000 |
| Deferred charges | 100,000 |
| Patent | 2,500,000 |
| Customer list | 500,000 |
| Copyright | 700,000 |
| Deposit with advertising agency to promote goodwill | 400,000 |
| Bond sinking fund | 1,300,000 |
| Goodwill | 4,000,000 |
| Trademark | 900,000 |
| Research and development cost | 2,000,000 |
What total amount should be reported as intangible assets?
1. Klee Company reported the following data at year-end:
| Franchise | P1,000,000 |
| Computer software | 1,500,000 |
| Deferred charges | 100,000 |
| Patent | 2,500,000 |
| Customer list | 500,000 |
| Copyright | 700,000 |
| Deposit with advertising agency to promote goodwill | 400,000 |
| Bond sinking fund | 1,300,000 |
| Goodwill | 4,000,000 |
| Trademark | 900,000 |
| Research and development cost | 2,000,000 |
What total amount should be reported as intangible assets?
P11,100,000
P13,100,000
P11,500,000
P10,600,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting Theory
Authors: Craig Deegan
2nd Edition
0077126734, 978-0077126735
