Question

Given the following account balances at year-end, compute the total intangible assets on the balance sheet of Janssen Enterprises.

Cash $1,500,000
Accounts Receivable 1,000,000
Trademarks 1,200,000
Goodwill 2,500,000
Research & Development Costs 2,000,000

Answer 1

$3,700,000

Step-by-step explanation:

Intangible assets are those assets that can neither be seen nor touched.

Given that;

Trade marks = $1,200,00

Goodwill = $2,500,000

The total in tangible assets on the balance sheet of Janssen enterprises is

= Trade marks + Goodwill

= $1,200,000 + $2,500,000

= $3,700,000