rganization costs ................................... P 20,000 Trademarks ........................................... 68,000 Deposits with advertising agency (will be used to promote goodwill) .................................. 80,000 Discount on bonds payable ............................ 8,000 Excess of cost over book value of net assets of acquired subsidiary ................................ 300,000 In the preparation of Flayle's statement of financial position as of December 31, what should be reported as total intangible assets
rganization costs ................................... P 20,000 Trademarks ........................................... 68,000 Deposits with advertising agency (will be used to promote goodwill) .................................. 80,000 Discount on bonds payable ............................ 8,000 Excess of cost over book value of net assets of acquired subsidiary ................................ 300,000 In the preparation of Flayle's statement of financial position as of December 31, what should be reported as total intangible assets
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Your audit of the general ledger of the Flayle Corporation as of December 31 includes the following accounts:
|
Organization costs ................................... |
P 20,000 |
|
Trademarks ........................................... |
68,000 |
|
Deposits with advertising agency (will be used to promote |
80,000 |
|
Discount on bonds payable ............................ |
8,000 |
|
Excess of cost over book value of net assets of acquired subsidiary ................................ |
300,000 |
In the preparation of Flayle's
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