Accounting Assignment | Custom Assignment Help
Shamrock Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs$22,500Trademarks13,100Discount on bonds payable35,500Deposits with advertising agency for ads to promote goodwill of company10,500Excess of cost over fair value of net identifiable assets of acquired subsidiary75,500Cost of equipment acquired for research and development projects; the equipment has an alternative future use85,500Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years80,000
(a) On the basis of this information, compute the total amount to be reported by Shamrock for intangible assets on its balance sheet at year-end.
Total amount reported for intangible assets$