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mario62 [17]
1 year ago
15

Given the following account balances at year end, compute the total intangible assets on the balance sheet of Vaughn Enterprises

. Cash $1499000 Accounts Receivable 3998000 Trademarks 10009000 Goodwill 3010000 Research
Business
1 answer:
attashe74 [19]1 year ago
3 0

Total intangible assets are $13,019,000.

<h3><u>What are intangible assets?</u></h3>
  • An asset that is not physical in nature is said to be intangible.
  • Intangible assets include goodwill, brand awareness, and intellectual property like patents, trademarks, and copyrights. Contrasting with tangible assets like real estate, automobiles, machinery, and stock are intangible assets.
  • Financial assets like stocks and bonds are also regarded as tangible assets because they receive their value from contractual rights.

There are two types of intangible assets: definite and indefinite. Because it remains with a firm for as long as it is in business, a brand name is seen as an everlasting intangible asset. An agreement to legally use another company's patent without any plans to extend it is an example of a concrete intangible asset.

Total intangible assets = Trademark + Goodwill = $10,009,000 + $3,010,000 = $13,019,000.

Know more about intangible assets with the help of the given link:

brainly.com/question/13848560

#SPJ4

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