Edgardo Company, an SME, provided the following data on December 31, 2018: Unamortized bond issue cost 150,000 Organization cost 200,000 Losses incurred in the early years of the entity's operations 500,000 1,000,000 Computer software (integral part of a computer controlled machine) Patent 1,500,000 Amount set up by the board of directors as goodwill 400,000 Franchise 2,000,000 What total amount of intangible assets should be recognized on December 31, 2018?

Edgardo Company, an SME, provided the following data on December 31, 2018: Unamortized bond issue cost 150,000 Organization cost 200,000 Losses incurred in the early years of the entity's operations 500,000 1,000,000 Computer software (integral part of a computer controlled machine) Patent 1,500,000 Amount set up by the board of directors as goodwill 400,000 Franchise 2,000,000 What total amount of intangible assets should be recognized on December 31, 2018?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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