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Mariana [72]
3 years ago
8

Joni Hyde Inc. has the following amounts reported in its general ledger at the end of the current year.

Business
1 answer:
Schach [20]3 years ago
4 0

Answer:

90,000

Explanation:

An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.

Trademarks                                                 = 15,000

Excess of cost over the fair value of net

identifiable assets  (Goodwill)                     = 75,000

Total intangible assets                                 = 90,000

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Answer:

Principal payment =  $27,505.00  

Explanation:

<em>Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest.</em>

The principal repayment in year 1 = Annual payment - Interest payment in year 1

<em>Interest payment in year = Interest rate × Principal Amount</em>

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Principal payment =  $27,505.00  

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