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What should be reported as total intangible assets

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Reference no: EM132765309

Question - The general ledger of Vance Corporation as of December 31, 2019, includes the following accounts:

Copyrights £30,000

Deposits with advertising agency (will be used to promote goodwill) £27,000

Bond sinking fund £70,000

Excess of cost over fair value of identifiable net assets of Acquired subsidiary £390,000

Trademarks £120,000

In the preparation of Vance's statement of financial position as of December 31, 2019, what should be reported as total intangible assets?

a. £537,000.

b. £510,000.

c. £537,000.

d. £540,000.

Reference no: EM132765309

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