Question

ccounts Payable $55,000 Land $90,000 Inventory $10,500 Accounts Receivable $7,500 Equipment $8,000 Deferred Revenue $58,500 Short-term Investments $20,000 Notes Receivable (due in 8 months) $45,500 Interest Payable $2,000 Patents $75,000 What is the amount of intangible assets assuming the accounts above reflect normal activity

Answer 1

The answer is "
`\$75,000`".

Step-by-step explanation:

The immaterial assets are those assets without physical matter. It would include patents, copyright, goodwill, brand, etc. Instead of tangible assets including such equipment or computer components used to calculate the current value of a business, it improves the overall long-term value of the small company. In that instance, the intangible assets were solely patents. So the response is $75,000.