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AE12-3 (Classification Issues-Intangible Asset)...




AE12-3 (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. $


Paper#11742 | Written in 18-Jul-2015

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