Joni Marin Inc. has the following amounts reported in its general ledger at the end of the current year.Organization costs$23,300Trademarks14,700Discount on bonds payable36,300Deposits with advertising agency for ads to promote goodwill of company11,300Excess of cost over fair value of net identifiable assets of acquired subsidiary76,300Cost of equipment acquired for research and development projects; the equipment has an alternative future use86,300Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years81,600(a)On the basis of this information, compute the total amount to be reported by Marin for intangible assets on its balance sheet at year-end.Total amount reported for intangible assets$
Joni Marin Inc
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