Problem: Joni Larkspur Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $24,300
Trademarks 16,700
Discount on bonds payable 37,300
Deposits with advertising agency for ads to promote goodwill of company 12,300
Excess of cost over fair value of net identifiable assets of acquired subsidiary 77,300
Cost of equipment acquired for research and development projects; the equipment has an alternative future use 87,300
Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 83,600
Required: On the basis of this information, compute the total amount to be reported by Larkspur for intangible assets on its balance sheet at year-end.
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