be written off as soon as possible against retained earnings.
be written off as soon as possible as an extraordinary item.
be written off by systematic charges as a regular operating
expense over the period benefited.
not be amortized.
Question 4. (TCO C) The general ledger of Vance Corporation as of
December 31, 2011, includes the following accounts:
Copyrights
30,000
$
Deposits with advertising agency (will be used to promote goodwill)
27,000
Discount on bonds payable
70,000
Excess of cost over fair value of identifable net asset of
acquired subsidiary
390,000
Trademarks
90,000
In the preparation of Vance's balance sheet as of December 31,
2011, what should be reported as total intangible assets?