Given the following account balances at year end compute the total intangible assets on the balance sheet of Janssen Enterprises. $$\begin{array} { l r }
\text { Cash } & \$ 1,500,000 \
\text { Accounts Receivable } & 1,000,000 \
\text { Trademarks } & 1,200,000 \
\text { Goodwill } & 2,500,000 \
\text { Research \& Development Costs } & 2,000,000
\end{array}$$
A)$9700000.
B)$5700000.
C)$3700000.
D)$7700000.

Question

Given the following account balances at year end compute the total intangible assets on the balance sheet of Janssen Enterprises. $$\begin{array} { l r } 
\text { Cash } & \$ 1,500,000 \
\text { Accounts Receivable } & 1,000,000 \
\text { Trademarks } & 1,200,000 \
\text { Goodwill } & 2,500,000 \
\text { Research \& Development Costs } & 2,000,000
\end{array}$$
A)$9700000.
B)$5700000.
C)$3700000.
D)$7700000.

Quizplus · Accepted Answer

Intangible assets include Trademarks and Goodwill. Therefore, the total intangible assets are $1,200,000 (Trademarks) + $2,500,000 (Goodwill) = $3,700,000.

Given the Following Account Balances at Year End Compute the Total