The General Ledger of Vance Corporation as of December 31

question 67

Multiple Choice

The general ledger of Vance Corporation as of December 31, 2007, includes the following accounts: $$\begin{array} { l r } \text { Copyrights } & \$ 20,000 \\\text { Deposits with advertising agency (will be used to promote goodwill) } & 27,000 \\\text { Discount on bonds payable } & 67,500 \\\text { Excess of cost over fair value of identifiable net assets of } & \\\quad \text { Acquired subsidiary } & 390,000 \\\text { Trademarks } & 90,000\end{array}$$ In the preparation of Vance's balance sheet as of December 31, 2007, what should be reported as total intangible assets?

• A)$594,500.
• B)$527,000.
• C)$500,000.
• D)$460,000.

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Definitions:

Harley Mystique

The unique appeal or allure associated with Harley-Davidson motorcycles, often tied to their distinctive design, history, and culture.

Operating Culture

The collective behaviors, beliefs, and values that influence the day-to-day operations and overall atmosphere within an organization.

Engineering Culture

The set of characteristics, norms, and practices that define the professional environment and approach of engineers and engineering teams.

Executive Culture

The attitudes, behaviors, and values that are prevalent among an organization's top management and leadership teams.