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Given the Following Account Balances at Year End Compute the Total

question 47

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Given the following account balances at year end compute the total intangible assets on the balance sheet of Janssen Enterprises.  Cash $1,500,000 Accounts Receivable 1,000,000 Trademarks 1,200,000 Goodwill 2,500,000 Research & Development Costs 2,000,000\begin{array} { l r } \text { Cash } & \$ 1,500,000 \\\text { Accounts Receivable } & 1,000,000 \\\text { Trademarks } & 1,200,000 \\\text { Goodwill } & 2,500,000 \\\text { Research \& Development Costs } & 2,000,000\end{array}

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Definitions:

Title Warranties

Legal guarantees provided by a seller to a buyer that they possess a clear and unencumbered title to the property or goods being sold.

Disclaim or Modify

To reject, deny responsibility, or change terms and conditions in an agreement or statement.

Transferring Rights

The act of moving or assigning legal rights or interests from one party to another.

Merchantable

A standard in sales law indicating that goods are fit for the ordinary purposes for which such goods are used.

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