Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. $$\begin{array} { l r }
\text { Cash } & \$ 1,500,000 \
\text { Accounts Receivable } & 1,000,000 \
\text { Trademarks } & 1,200,000 \
\text { Goodwill } & 2,500,000 \
\text { Research \& Development Costs } & 2,000,000
\end{array}$$
A)$9,700,000.
B)$5,700,000.
C)$3,700,000.
D)$7,700,000.

Question

Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. $$\begin{array} { l r } 
\text { Cash } & \$ 1,500,000 \
\text { Accounts Receivable } & 1,000,000 \
\text { Trademarks } & 1,200,000 \
\text { Goodwill } & 2,500,000 \
\text { Research \& Development Costs } & 2,000,000
\end{array}$$
A)$9,700,000.
B)$5,700,000.
C)$3,700,000.
D)$7,700,000.

Quizplus · Accepted Answer

Intangible assets include Trademarks ($1,200,000) and Goodwill ($2,500,000), totaling $3,700,000. Research & Development Costs are typically expensed, not capitalized as intangible assets.

Given the Following Account Balances at Year End, Compute the Total