Joni Skysong Inc has the following amounts reported in its g
Joni Skysong Inc. has the following amounts reported in its general ledger at the end of the current year.
 (a)
 
 On the basis of this information, compute the total amount to be reported by Skysong for intangible assets on its balance sheet at year-end.
| Organization costs | $22,600 | |
| Trademarks | 13,300 | |
| Discount on bonds payable | 35,600 | |
| Deposits with advertising agency for ads to promote goodwill of company | 10,600 | |
| Excess of cost over fair value of net identifiable assets of acquired subsidiary | 75,600 | |
| Cost of equipment acquired for research and development projects; the | ||
| equipment has an alternative future use | 85,600 | |
| Costs of developing a secret formula for a product that is expected to | ||
| be marketed for at least 20 years | 80,200 | 
Solution
(a)
| Trademarks | $13,300 | 
| Excess of cost over fair value of net assets ofacquired subsidiary(goodwill) | $75,600 | 
| Total intangible assets | $88,900 | 

