The general ledger of the Flint Corporation as of December 31, 2007 includes the following accounts:
|
Organization costs |
$5,000 |
|
Deposits with advertising agency (will be used to promote goodwill) |
8,000 |
|
Discounts on bonds payable |
15,000 |
|
Excess of cost over book value of net assets of acquired subsidiary |
70,000 |
|
Trademarks |
12,000 |
In the preparation of Flint’s balance sheet as of December 31, 2007, what should be reported as total intangible assets?
a. $82,000
b. $87,000
c. $95,000
d. $110,000