Classification Issues-Intangible Asset Langrova Inc. has the following amounts included in its general ledger at December 31, 2010.
(a) On the basis of the information above, compute the total amount to be reported by Langrova for intangible assets on its balance sheet at December 31, 2010. Equipment has alternative future use.
(b) If an item is not to be included in intangible assets, explain its proper treatment for reporting purposes.