Carla Vista Electric Inc. has the following amounts included in its general ledger at December 31, 2023: Organization costs   $34,600 Purchased trademarks   18,400 Development phase activities (meet all six development phase criteria)   30,300 Deposits with advertising agency for ads to promote goodwill of company   8,500 Excess of cost over fair value of identifiable net assets of acquired subsidiary   80,600 Cost of equipment acquired for research and development projects; the equipment has an alternative future use   125,600 Costs of researching a secret formula for a product that is expected to be marketed for at least 20 years   75,000 Payment for a favourable lease; lease term of 10 years   14,400 (a) Based on the information provided, calculate the total amount for Carla Vista to report as intangible assets on its statement of financial position at December 31, 2023. Assume Carla Vista uses IFRS to prepare its financial statements.

The following five independent questions relate to the GIANTS Co, whose reporting year ends on 12/31. Giants Co developed a trademark internally, incurring the following costs on 1/1/18: Design Registration $282,000 $132,000 $92,000 Research/Development On 1/1/20, Giants Co acquired a trade name for $498,000. At the time of development (1/1/18) and acquisition (1/1/20), Giants Co estimated that the economic life of each asset would be 12 years. On 1/1/24, Giants Co successfully defended the trade name in a legal battle at a cost of $21,700. As a result, the economic life was adjusted to extend through the year 2032. Also on this day, Giants Co has determined that the trademark would have an unlimited capacity to produce cash flows. ** REQUIRED: 1) Determine the following: a) TOTAL amount of amortization expense reported FYE 12/31/23. b) TOTAL amount of amortization expense reported FYE 12/31/24. c) carry value of the Trademark at 12/31/24. d) carry value of the Trade Name at 12/31/24.

Blossom Electric Inc. has the following amounts included in its general ledger at December 31, 2023: Organization costs Purchased trademarks Development phase activities (meet all six development phase criteria) Deposits with advertising agency for ads to promote goodwill of company Excess of cost over fair value of identifiable net assets of acquired subsidiary Cost of equipment acquired for research and development projects; the equipment has an alternative future use Costs of researching a secret formula for a product that is expected to be marketed for at least 20 years Payment for a favourable lease; lease term of 10 years $34,700 Total amount of intangible assets to be reported 18,500 31,500 7,700 81,100 125,300 75,900 14,900 (a) Based on the information provided, calculate the total amount for Blossom to report as intangible assets on its statement of financial position at December 31, 2023. Assume Blossom uses IFRS to prepare its financial statements.

Asanco Corporation acquired and placed in service the following assets during the year:     Asset Date Acquired Cost Basis Building 12/4 $350,000 Computer Equipment 3/2 $40,000 Furniture 4/15 $38,000     Assume that Asanco does not elect §179 expensing and elects not to use bonus depreciation. Answer the following questions. What is Asanco’s first year cost recovery for each asset? Use the format below. Asset Acquisition Date Quarter Recovery Period Original Basis Rate Depreciation Expense                                             What is Asanco’s year 3 cost recovery for each asset if it sells all of these assets on January 10th of year 3? Use the format below.              Asset Original Basis Recovery Period Rate Portion of Year Depreciation Expense