Compute the total amount to be reported by langrova

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Question - Classification Issues-Intangible Asset

Langrova Inc. has the following amounts included in its general ledger at December 31, 2010.

Organization costs

$28,092

Trademarks

19,641

Discount on bonds payable

34,593

Deposits with advertising agency for ads to promote goodwill of company

12,629

Excess of cost over fair value of net identifiable assets of acquired subsidiary

72,325

Cost of equipment acquired for research and development projects; the


equipment has an alternative future use

90,123

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

78,403

On the basis of the information above, compute the total amount to be reported by Langrova for intangible assets on its balance sheet at December 31, 2010. Equipment has alternative future use.

Reference no: EM131817455

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