Multiple Choice Accounting Problems (Simple)

Question 11 (1 point) The general ledger of Babcock Corporation as of December 31, 2010, includes the following accounts: Copyrights $25,000 Deposits with advertising agency (will be used to promote 16,000 goodwill) Discount on bonds payable 36,350 Excess of cost over fair value of identifiable net assets of acquired 289,000 subsidiary Trademarks 51,000 In the preparation of Babcock's balance sheet as of December 31, 2010, what should be reported as total intangible assets, excluding goodwill? Oa) $76,000. Ob) $365,000. Oc) $381,000. Od) $401,350.Question 12 (1 point) Which of the following methods of amortization is normally used for intangible assets? a) Capital cost allowance Ob) Straight-line O c) Activity method Od) Double declining-balance