Keisha Co. incurred the following expenditures on internally developed intangible assetsInternally developed goodwill100,000Brands230,000Mastheads50,000Publishing titles100,000Customer lists70,000 Keisha incurred P 100,000 additional costs in maintaining the customer lists. The company also treated all the intangible assets with an indefinite useful life. How much is the total carrying amount of the capitalized intangible assets at year-end?

Intangible assets are those assets that are identifiable, having economic value but do not have a…

Answered: Keisha Co. incurred the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Keisha Co. incurred the following expenditures on internally developed intangible assets

Internally developed goodwill	100,000
Brands	230,000
Mastheads	50,000
Publishing titles	100,000
Customer lists	70,000

Keisha incurred P 100,000 additional costs in maintaining the customer lists. The company also treated all the intangible assets with an indefinite useful life.

How much is the total carrying amount of the capitalized intangible assets at year-end?

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