The following is a list of items that could be #2192

The following is a list of items that could be included in the intangible assets section of the
statement of financial position:1. An investment in a subsidiary company2. Timberland3. The
cost of an engineering activity that is required to advance a product's design to the
manufacturing stage4. A lease prepayment (six months of rent paid in advance)5. The cost of
equipment obtained under a capital lease6. The cost of searching for applications for new
research findings7. Costs incurred in forming a corporation8. Operating losses incurred in the
stan-up of a business9. Training costs incurred in the stan-up of a new operation10. The
purchase cost of a franchise11. Goodwill generated internally12. The cost of testing in the
search for product alternatives13. Goodwill acquired in the purchase of a business14. The cost
of developing a patent15. The cost of purchasing a patent from an inventor16. Legal costs
incurred in securing a patent17. Unrecovered costs of a successful legal suit to protect the
patent18. The cost of conceptual formulation of possible product alternatives19. The cost of
purchasing a copyright20. Product development costs21. Long-term receivables22. The cost of
developing a trademark23. The cost of purchasing a trademark24. The cost of an annual update
on payroll software25. A five-year advertising contract for rights of advertising by a top hockey
player in Canada26. Borrowing costs specifically identifiable with an internally developed
intangible assetInstructions(a) Indicate which items on the list would be reported as intangible
assets on the statement of financial position.(b) Indicate how, if at all, the items that are not
reportable as intangible assets would be reported in the financial statements.(c) Identify any
differences between ASPE and IFRS with respect to capitalization of such items as intangible
assets.View Solution:
The following is a list of items that could be

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