riger Lakes Parent Network CLASSIC ICHERRY 29. Fünt Corporation's general ledger as of December 31, 2018, includes the following accounts Corporation (start-up) costs $ 5,000 8,000 15,000 Deposits with advertising agency (will be used to promote goodwill) Discounts on bonds payable Excess of purchase price over fair value of the identifiable net assets of acquired company Trademarks 70,000 12,000 In the preparation of Flint's balance sheet as of December 31, 2018, what should be reported as total intangible assets? $82,000 b. a. $87,000 $95,000 d. $110,000 C. 30. Which of the following statements concerning internally developed goodwill is true? a. it is a separately identifiable asset b. it is capitalized at its cost intod with its development are expensed as incurred reliable
riger Lakes Parent Network CLASSIC ICHERRY 29. Fünt Corporation's general ledger as of December 31, 2018, includes the following accounts Corporation (start-up) costs $ 5,000 8,000 15,000 Deposits with advertising agency (will be used to promote goodwill) Discounts on bonds payable Excess of purchase price over fair value of the identifiable net assets of acquired company Trademarks 70,000 12,000 In the preparation of Flint's balance sheet as of December 31, 2018, what should be reported as total intangible assets? $82,000 b. a. $87,000 $95,000 d. $110,000 C. 30. Which of the following statements concerning internally developed goodwill is true? a. it is a separately identifiable asset b. it is capitalized at its cost intod with its development are expensed as incurred reliable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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please answer question 29
Transcribed Image Text:riger Lakes
Parent Network
CLASSIC ICHERRY
29. Fünt Corporation's general ledger as of December 31, 2018, includes the following accounts
Corporation (start-up) costs
$ 5,000
8,000
15,000
Deposits with advertising agency (will be used to promote goodwill)
Discounts on bonds payable
Excess of purchase price over fair value of the identifiable
net assets of acquired company
Trademarks
70,000
12,000
In the preparation of Flint's balance sheet as of December 31, 2018, what should be reported as total intangible
assets?
$82,000
b.
a.
$87,000
$95,000
d. $110,000
C.
30. Which of the following statements concerning internally developed goodwill is true?
a. it is a separately identifiable asset
b. it is capitalized at its cost
intod with its development are expensed as incurred
reliable
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