Reference no: EM132448228

ACC422 Intermediate Financial Accounting Assignment - University of Phoenix, USA

Question - Joni Marin Inc. has the following amounts reported in its general ledger at the end of the current year.

Organization costs $23,300

Trademarks 14,700

Discount on bonds payable 36,300

Deposits with advertising agency for ads to promote goodwill of company 11,300

Excess of cost over fair value of net identifiable assets of acquired subsidiary 76,300

Cost of equipment acquired for research and development projects; the equipment has an alternative future use 86,300

Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 81,600

Required - 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.