ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 20

$5,800,000 at that time. What amount of loss on impairment of
goodwill should Jenks record in 2015?

20) The general ledger of Vance Corporation as of December
31, 2015, includes the following accounts:

Copyrights

$30,000

Deposits with advertising agency (will be used to promote
goodwill)
27,000

Discount on bonds payable

70,000

Excess of cost over fair value of identifiable net assets of
Acquired subsidiary
480,000

Trademarks

90,000

In the preparation of Vance's balance sheet as of December 31,
2015, what should be reported as total intangible assets?