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    The general ledger of Younger Corporation as of December 31, 2011, includes the following accounts

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    The general ledger of Younger Corporation as of December 31, 2011, includes the following accounts:

    Copyrights $20,000
    Deposits with advertising agency (promote goodwill) 13,500
    Discount on bonds payable 33,750
    Excess of cost over fair value of identifiable net assets of
    acquired subsidiary 245,000
    Trademarks 45,000

    In the preparation of Younger's balance sheet as of December 31, 2011, what should be reported as total intangible assets?

    a $357,250.
    b $323,500.
    c $310,000.
    d $290,000.

    © BrainMass Inc. brainmass.com October 10, 2019, 5:10 am ad1c9bdddf
    https://brainmass.com/business/t-accounts/preparing-balance-sheet-reporting-total-intangible-assets-495503

    Solution Preview

    Correct Answer is (d) $310000.It is worked out as under.

    Copyrights ...

    Solution Summary

    This solution helps with preparing a balance sheet and reporting total intangible assets.

    $2.19