The general ledger of Blossom Corporation as of December 31, 2021, includes the following accounts: Соpyrights $ 48000 Deposits with advertising agency (will be used to promote goodwill) 25000 Discount on bonds payable 68000 Excess of cost over fair value of identifiable net assets of Acquired subsidiary 460000 Trademarks 78000 In the preparation of Blossom's balance sheet as of December 31, 2021, what should be reported as total intangible assets? $538000.

The general ledger of Blossom Corporation as of December 31, 2021, includes the following accounts: Соpyrights $ 48000 Deposits with advertising agency (will be used to promote goodwill) 25000 Discount on bonds payable 68000 Excess of cost over fair value of identifiable net assets of Acquired subsidiary 460000 Trademarks 78000 In the preparation of Blossom's balance sheet as of December 31, 2021, what should be reported as total intangible assets? $538000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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