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Alinara [238K]
3 years ago
10

The general ledger of Sandhill Corporation as of December 31, 2021, includes the following accounts: Copyrights $ 58000 Deposits

with advertising agency (will be used to promote goodwill) 35000 Discount on bonds payable 78000 Excess of cost over fair value of identifiable net assets of Acquired subsidiary 560000 Trademarks 69000 In the preparation of Sandhill's balance sheet as of December 31, 2021, what should be reported as total intangible assets
Business
1 answer:
Dafna1 [17]3 years ago
5 0

Answer:

$687,000

Explanation:

Intangible Assets are identifiable assets of a non-monetary asset  and without physical substance. Intangible assets include trademarks, copyrights and goodwill that is acquired.

Important to note that Internally generated Goodwill  is not defined as an assets. Thus, deposits with advertising agency of $35,000 are not included within tangible assets

<u>Calculation of Total Intangible Assets will be :</u>

Intangible Assets Calculation = (Copyrights) $ 58,000  + (Goodwill Acquired) $560,000 + (Trademarks) $69,000

                                                 = $687,000

Therefore,

Sandhill's balance sheet as of December 31, 2021 should report total intangible assets of $687,000

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Revenues

Explanation:

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Critics find it hypocritical because when paid to run political campaigns, news organisations do not reject lies by public officials, because they were paid for the air time.

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AirStep Shoe Company has two retail stores, one in Gainesville and the other in Orlando. The Gainesville store had sales of $100
Yakvenalex [24]

Answer:

D. $45,000

Explanation:

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= $45,000

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3 years ago
Alpha Company manufactures Product P and sells it in packs of 10 units. The actual results for the first week in January are as
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The right solution is "13,675 U".

Explanation:

According to the question,

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= 67,500

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hence,

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