Question: Flint Corporation’s general ledger as of December…
Flint Corporation’s general ledger as of December 31, 2016, includes the following accounts:
Corporation (start-up) costs $ 5,000
Deposits with advertising agency (will be used to promote goodwill) 8,000
Discounts on bonds payable 15,000
Excess of purchase price over fair value of the identifiable net assets of acquired company 70,000
In the preparation of Flint’s balance sheet as of December 31, 2016, what should be reported as total intangible assets?