Question

The general ledger of Megan Corporation as of December 31, 2018, includes the following accounts:

           

Copyrights

              $ 30,000

Deposits with advertising agency (will be used to promote goodwill)

27,000

Bond sinking fund

70,000

Excess of cost over fair value of identifiable net assets of acquired subsidiary

390,000

Trademarks

120,000

 

In the preparation of Megan's statement of financial position as of December 31, 2018, what should be reported as total intangible assets? 

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