(Classification Issues—Intangibles) Presented below is selected information related to Matt Perry Inc. as of December 21, 2012. All these items have debit balances.
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Cable television franchises |
Film contract rights |
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Music copyrights |
Customer lists |
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Research and development costs |
Prepaid expenses |
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Goodwill |
Covenants not to compete |
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Cash |
Brand names |
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Discount on notes payable |
Notes receivable |
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Accounts receivable |
Investments in affiliated companies |
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Property, plant, and equipment |
Organization costs |
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Internet domain name |
Land |
Instructions
Identify which items should be classified as an intangible asset. For those items not classified as an intangible asset, indicate where they would be reported in the financial statements.